Voya Investment Management LLC Lowers Holdings in Redwood Trust, Inc. $RWT

Voya Investment Management LLC decreased its stake in Redwood Trust, Inc. (NYSE:RWT) by 8.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 698,009 shares of the real estate investment trust’s stock after selling 65,968 shares during the quarter. Voya Investment Management LLC owned approximately 0.52% of Redwood Trust worth $4,237,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RWT. LSV Asset Management raised its holdings in Redwood Trust by 58.9% in the 1st quarter. LSV Asset Management now owns 1,772,345 shares of the real estate investment trust’s stock worth $10,758,000 after purchasing an additional 657,141 shares during the period. Jane Street Group LLC acquired a new position in Redwood Trust in the 1st quarter worth about $2,018,000. Nuveen LLC acquired a new position in Redwood Trust in the 1st quarter worth about $1,983,000. Ceredex Value Advisors LLC raised its holdings in Redwood Trust by 24.4% in the 1st quarter. Ceredex Value Advisors LLC now owns 1,479,950 shares of the real estate investment trust’s stock worth $8,983,000 after purchasing an additional 289,900 shares during the period. Finally, Mariner Investment Group LLC acquired a new position in shares of Redwood Trust during the first quarter valued at approximately $910,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RWT shares. Wall Street Zen cut Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 2nd. UBS Group increased their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Keefe, Bruyette & Woods cut their price target on Redwood Trust from $6.50 to $5.75 and set a “market perform” rating for the company in a report on Tuesday, August 5th. Finally, JMP Securities cut their price target on Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating for the company in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.55.

Redwood Trust Stock Down 0.8%

Redwood Trust stock opened at $6.02 on Friday. Redwood Trust, Inc. has a 1-year low of $4.68 and a 1-year high of $8.07. The company has a debt-to-equity ratio of 20.00, a current ratio of 40.39 and a quick ratio of 40.39. The stock has a market cap of $777.90 million, a PE ratio of -9.41 and a beta of 1.37. The stock’s fifty day moving average is $6.00 and its two-hundred day moving average is $5.88.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Redwood Trust had a negative net margin of 6.93% and a positive return on equity of 8.70%. The business had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. On average, sell-side analysts expect 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 12.0%. The ex-dividend date is Tuesday, September 23rd. Redwood Trust’s payout ratio is -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.