Rhumbline Advisers Buys 22,302 Shares of Redwood Trust, Inc. (NYSE:RWT)

Rhumbline Advisers increased its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400,212 shares of the real estate investment trust’s stock after acquiring an additional 22,302 shares during the quarter. Rhumbline Advisers owned about 0.30% of Redwood Trust worth $2,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RWT. Creative Planning bought a new position in Redwood Trust during the third quarter worth $91,000. Ceredex Value Advisors LLC increased its position in Redwood Trust by 22.8% during the third quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after acquiring an additional 207,088 shares during the period. Concurrent Investment Advisors LLC increased its position in Redwood Trust by 269.9% during the third quarter. Concurrent Investment Advisors LLC now owns 39,273 shares of the real estate investment trust’s stock worth $304,000 after acquiring an additional 28,655 shares during the period. Apollon Wealth Management LLC increased its position in Redwood Trust by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 77,972 shares of the real estate investment trust’s stock worth $603,000 after acquiring an additional 5,259 shares during the period. Finally, Intech Investment Management LLC increased its position in Redwood Trust by 182.1% during the third quarter. Intech Investment Management LLC now owns 48,929 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 31,582 shares during the period. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Up 1.8 %

Shares of NYSE RWT opened at $6.69 on Monday. The firm’s 50-day simple moving average is $6.48 and its 200 day simple moving average is $7.05. The company has a market cap of $886.56 million, a price-to-earnings ratio of 20.27 and a beta of 1.57. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09. Redwood Trust, Inc. has a 12-month low of $5.45 and a 12-month high of $8.15.

Redwood Trust (NYSE:RWT) last released its earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. The business had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.00 million. On average, research analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.76%. Redwood Trust’s dividend payout ratio is 218.18%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RWT shares. JPMorgan Chase & Co. lowered their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. JMP Securities restated a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Friday, February 14th. Finally, StockNews.com downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.84.

Redwood Trust Company Profile

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.