Millennium Management LLC Raises Position in Redwood Trust, Inc. (NYSE:RWT)

Millennium Management LLC lifted its stake in shares of Redwood Trust, Inc. (NYSE:RWTFree Report) by 52.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,003 shares of the real estate investment trust’s stock after purchasing an additional 30,286 shares during the period. Millennium Management LLC owned 0.07% of Redwood Trust worth $575,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RWT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Redwood Trust by 10.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,253 shares of the real estate investment trust’s stock valued at $11,272,000 after buying an additional 169,729 shares in the last quarter. Focus Partners Wealth grew its stake in Redwood Trust by 14.1% in the 4th quarter. Focus Partners Wealth now owns 20,164 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 2,488 shares in the last quarter. Deutsche Bank AG grew its stake in Redwood Trust by 61.9% in the 4th quarter. Deutsche Bank AG now owns 104,456 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 39,943 shares in the last quarter. Corton Capital Inc. purchased a new position in Redwood Trust in the 4th quarter valued at approximately $162,000. Finally, Cetera Investment Advisers bought a new position in Redwood Trust in the 4th quarter valued at $95,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Performance

Shares of NYSE RWT opened at $5.65 on Monday. The firm has a fifty day moving average price of $5.64 and a 200-day moving average price of $6.24. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. The stock has a market cap of $752.12 million, a PE ratio of 17.12 and a beta of 1.30. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15.

Redwood Trust (NYSE:RWTGet Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The company had revenue of $73.80 million for the quarter, compared to the consensus estimate of $26.55 million. Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. Equities analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 24th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 12.74%. The ex-dividend date of this dividend was Monday, March 24th. Redwood Trust’s dividend payout ratio is presently 327.27%.

Analyst Ratings Changes

Several research analysts have commented on RWT shares. UBS Group raised their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Jones Trading reaffirmed a “buy” rating and set a $7.00 price objective on shares of Redwood Trust in a report on Friday, May 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of Redwood Trust from $7.75 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Finally, JMP Securities dropped their price objective on shares of Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.44.

Read Our Latest Research Report on RWT

Redwood Trust Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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