Atria Wealth Solutions Inc. Cuts Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Atria Wealth Solutions Inc. cut its stake in Redwood Trust, Inc. (NYSE:RWT) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,821 shares of the real estate investment trust’s stock after selling 6,000 shares during the period. Atria Wealth Solutions Inc. owned 0.07% of Redwood Trust worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. LaSalle St. Investment Advisors LLC acquired a new stake in Redwood Trust in the 4th quarter worth approximately $37,000. Carrera Capital Advisors acquired a new stake in Redwood Trust during the 1st quarter valued at approximately $65,000. XTX Topco Ltd acquired a new stake in Redwood Trust during the 1st quarter valued at approximately $65,000. Pinnacle Associates Ltd. acquired a new stake in Redwood Trust during the 1st quarter valued at approximately $68,000. Finally, Zacks Investment Management acquired a new stake in Redwood Trust during the 4th quarter valued at approximately $74,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on RWT shares. UBS Group decreased 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 note on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Redwood Trust from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. JMP Securities decreased their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating for the company in a research note on Thursday, July 31st. Jones Trading reiterated a “buy” rating and issued a $7.00 target price on shares of Redwood Trust in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $6.50 to $5.75 and set a “market perform” rating for the company in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.18.

Redwood Trust Price Performance

Shares of NYSE RWT opened at $6.05 on Thursday. The firm has a market cap of $781.78 million, a PE ratio of -9.45 and a beta of 1.31. The firm has a fifty day moving average of $5.85 and a 200 day moving average of $5.96. The company has a debt-to-equity ratio of 20.00, a quick ratio of 39.35 and a current ratio of 40.39. Redwood Trust, Inc. has a one year low of $4.68 and a one year high of $8.15.

Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Redwood Trust had a positive return on equity of 8.70% and a negative net margin of 6.93%. The business had revenue of ($38.10) million for the quarter, compared to analysts’ expectations of $31.00 million. As a group, research analysts predict that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.9%. Redwood Trust’s dividend payout ratio is presently -112.50%.

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.