Geode Capital Management LLC Sells 12,385 Shares of Redwood Trust, Inc. (NYSE:RWT)

Geode Capital Management LLC decreased its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,026,053 shares of the real estate investment trust’s stock after selling 12,385 shares during the quarter. Geode Capital Management LLC owned about 2.28% of Redwood Trust worth $19,765,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sovran Advisors LLC bought a new position in shares of Redwood Trust during the 4th quarter valued at about $63,000. KBC Group NV lifted its stake in Redwood Trust by 86.7% in the fourth quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 4,788 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Redwood Trust during the fourth quarter worth $80,000. CIBC Asset Management Inc bought a new stake in shares of Redwood Trust during the fourth quarter worth $86,000. Finally, Callan Capital LLC bought a new stake in Redwood Trust in the 4th quarter valued at $163,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

Redwood Trust Trading Up 4.2 %

NYSE RWT opened at $5.54 on Friday. Redwood Trust, Inc. has a 12 month low of $4.68 and a 12 month high of $8.15. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. The stock has a 50 day moving average of $6.05 and a 200-day moving average of $6.64. The company has a market cap of $736.06 million, a PE ratio of 16.77 and a beta of 1.15.

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

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.72 annualized dividend and a yield of 13.01%. Redwood Trust’s dividend payout ratio is 218.18%.

Analyst Ratings Changes

RWT has been the topic of several recent research reports. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Jones Trading dropped their target price on Redwood Trust from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. JMP Securities reduced their price target on Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

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.