Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Redwood Trust, Inc. (NYSE:RWT)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Redwood Trust, Inc. (NYSE:RWT) by 26.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,252 shares of the real estate investment trust’s stock after selling 9,526 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Redwood Trust were worth $159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LaSalle St. Investment Advisors LLC purchased a new position in Redwood Trust during the 4th quarter worth $37,000. Pinnacle Associates Ltd. purchased a new position in Redwood Trust during the 1st quarter worth $68,000. Zacks Investment Management purchased a new position in Redwood Trust during the 4th quarter worth $74,000. Tower Research Capital LLC TRC raised its position in Redwood Trust by 239.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,566 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 8,863 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Redwood Trust during the 4th quarter worth $95,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RWT shares. UBS Group cut their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Thursday, July 31st. JMP Securities lowered their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 31st. Jones Trading reaffirmed a “buy” rating and set a $7.00 price target on shares of Redwood Trust in a research note on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Redwood Trust from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Wall Street Zen cut shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.18.

Redwood Trust Price Performance

Shares of NYSE RWT opened at $5.76 on Monday. The stock has a market cap of $766.11 million, a price-to-earnings ratio of -8.99 and a beta of 1.31. Redwood Trust, Inc. has a 52 week low of $4.68 and a 52 week high of $8.15. The company’s 50-day moving average price is $5.82 and its 200 day moving average price is $5.96. The company has a current ratio of 39.35, a quick ratio of 39.35 and a debt-to-equity ratio of 18.74.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. Redwood Trust had a negative net margin of 9.26% and a positive return on equity of 8.57%. As a group, research analysts forecast that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal 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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend was Monday, June 23rd. Redwood Trust’s dividend payout ratio is presently -112.50%.

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.