Teacher Retirement System of Texas Invests $118,000 in Redwood Trust, Inc. (NYSE:RWT)

Teacher Retirement System of Texas acquired a new position in shares of Redwood Trust, Inc. (NYSE:RWT) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,370 shares of the real estate investment trust’s stock, valued at approximately $118,000.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in Redwood Trust by 3.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 1,767 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Redwood Trust by 1.5% in the first quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust’s stock worth $925,000 after acquiring an additional 2,326 shares during the last quarter. Focus Partners Wealth lifted its stake in Redwood Trust by 14.1% in the fourth quarter. Focus Partners Wealth now owns 20,164 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 2,488 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Redwood Trust by 8.6% during the 4th quarter. MetLife Investment Management LLC now owns 75,463 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 5,951 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Redwood Trust by 2.2% during the 4th quarter. Legal & General Group Plc now owns 361,935 shares of the real estate investment trust’s stock worth $2,363,000 after buying an additional 7,925 shares during the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RWT shares. JMP Securities dropped their target price 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. Jones Trading restated a “buy” rating and issued a $7.00 price target on shares of Redwood Trust in a research note on Friday, May 2nd. UBS Group boosted 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. JPMorgan Chase & Co. boosted their price target on shares of Redwood Trust from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods cut shares of Redwood Trust from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $7.00 to $6.50 in a report on Thursday, July 10th. 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 company presently has an average rating of “Moderate Buy” and an average target price of $7.39.

Redwood Trust Stock Performance

NYSE RWT opened at $6.04 on Tuesday. 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, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15. The company has a market capitalization of $804.31 million, a PE ratio of 10.40 and a beta of 1.30. The company has a fifty day moving average of $5.78 and a two-hundred day moving average of $6.02.

Redwood Trust (NYSE:RWT) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 EPS 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 analyst estimates 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 expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 11.92%. The ex-dividend date of this dividend was Monday, June 23rd. Redwood Trust’s dividend payout ratio is presently 327.27%.

Redwood Trust 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.