Northern Trust Corp Has $9.30 Million Stock Position in Redwood Trust, Inc. $RWT

Northern Trust Corp decreased its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,532,242 shares of the real estate investment trust’s stock after selling 37,059 shares during the quarter. Northern Trust Corp owned about 1.15% of Redwood Trust worth $9,301,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RWT. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Redwood Trust by 3.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 1,767 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Redwood Trust by 1.5% during the 1st 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Redwood Trust by 33.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 388,768 shares of the real estate investment trust’s stock worth $2,539,000 after acquiring an additional 97,205 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Redwood Trust by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 659,909 shares of the real estate investment trust’s stock worth $4,006,000 after acquiring an additional 18,499 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its holdings in shares of Redwood Trust by 9.2% during the 1st quarter. Peregrine Capital Management LLC now owns 910,365 shares of the real estate investment trust’s stock worth $5,526,000 after acquiring an additional 76,508 shares during the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analyst Weigh In

RWT has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price target on 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. Wall Street Zen downgraded Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 2nd. JMP Securities reduced their price target on 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. Finally, UBS Group boosted their price target on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Redwood Trust Stock Performance

NYSE:RWT opened at $6.37 on Friday. The stock has a fifty day moving average price of $5.97 and a 200-day moving average price of $5.91. The company has a market cap of $822.49 million, a price-to-earnings ratio of -9.95 and a beta of 1.37. The company has a debt-to-equity ratio of 20.00, a quick ratio of 40.39 and a current ratio of 40.39. Redwood Trust, Inc. has a fifty-two week low of $4.68 and a fifty-two week high of $8.15.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $31.00 million. As a group, equities analysts anticipate that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.72 annualized dividend and a dividend yield of 11.3%. 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.