Nisa Investment Advisors LLC Sells 3,585 Shares of Redwood Trust, Inc. (NYSE:RWT)

Nisa Investment Advisors LLC lowered its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 4.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,607 shares of the real estate investment trust’s stock after selling 3,585 shares during the quarter. Nisa Investment Advisors LLC owned about 0.06% of Redwood Trust worth $477,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zacks Investment Management bought a new stake in Redwood Trust during the fourth quarter worth approximately $74,000. Cibc World Markets Corp bought a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $80,000. Tower Research Capital LLC TRC boosted its position in shares of Redwood Trust by 239.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,566 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 8,863 shares during the period. Cetera Investment Advisers bought a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $95,000. Finally, Westbourne Investments Inc. bought a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $111,000. Institutional investors own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RWT has been the subject of several research reports. Keefe, Bruyette & Woods cut Redwood Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $7.00 to $6.50 in a research report on Thursday, July 10th. Wall Street Zen raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. JMP Securities reduced their price objective on Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Jones Trading reissued a “buy” rating and issued a $7.00 price objective on shares of Redwood Trust in a research report on Friday, May 2nd. Finally, UBS Group increased their price objective on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.39.

Redwood Trust Stock Performance

Redwood Trust stock opened at $6.09 on Thursday. The stock has a fifty day moving average price of $5.77 and a two-hundred day moving average price of $6.04. The firm has a market capitalization of $810.04 million, a P/E ratio of 27.66 and a beta of 1.30. Redwood Trust, Inc. has a 52-week low of $4.68 and a 52-week high of $8.15. The company has a debt-to-equity ratio of 16.32, a current ratio of 39.35 and a quick ratio of 39.35.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $73.80 million during the quarter, compared to the consensus estimate of $26.55 million. Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. As a group, analysts anticipate that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.83%. The ex-dividend date of this dividend was Monday, June 23rd. Redwood Trust’s dividend payout ratio is 327.27%.

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.