Raymond James Trust N.A. Grows Stake in Redwood Trust, Inc. (NYSE:RWT)

Raymond James Trust N.A. grew its holdings in Redwood Trust, Inc. (NYSE:RWT) by 53.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,118 shares of the real estate investment trust’s stock after acquiring an additional 6,318 shares during the quarter. Raymond James Trust N.A.’s holdings in Redwood Trust were worth $118,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Ceredex Value Advisors LLC increased its holdings in shares of Redwood Trust by 48.8% in the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock valued at $5,883,000 after acquiring an additional 297,100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Redwood Trust by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the real estate investment trust’s stock valued at $432,000 after acquiring an additional 1,400 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Redwood Trust by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 93,427 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 6,192 shares during the last quarter. SG Americas Securities LLC purchased a new position in Redwood Trust during the 2nd quarter worth approximately $242,000. Finally, Kingswood Wealth Advisors LLC grew its stake in Redwood Trust by 65.0% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 25,188 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 9,923 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Up 1.0 %

Shares of RWT stock opened at $7.52 on Friday. The business’s 50 day moving average is $7.00 and its two-hundred day moving average is $6.49. Redwood Trust, Inc. has a twelve month low of $5.45 and a twelve month high of $8.30. The company has a market capitalization of $993.13 million, a P/E ratio of 107.36 and a beta of 1.58. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97.

Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same period in the prior year, the company posted $0.14 EPS. Equities analysts forecast that Redwood Trust, Inc. will post 0.49 EPS for the current year.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.64 annualized dividend and a dividend yield of 8.52%. Redwood Trust’s dividend payout ratio is currently 914.29%.

Wall Street Analyst Weigh In

RWT has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. JMP Securities raised their price target on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Piper Sandler raised their price target on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Wedbush raised their price target on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

About Redwood Trust

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.