State of Alaska Department of Revenue Boosts Stake in Redwood Trust, Inc. $RWT

State of Alaska Department of Revenue grew its stake in Redwood Trust, Inc. (NYSE:RWT) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,299 shares of the real estate investment trust’s stock after acquiring an additional 5,871 shares during the period. State of Alaska Department of Revenue owned 0.06% of Redwood Trust worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RWT. LSV Asset Management grew its stake 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 acquiring an additional 657,141 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Redwood Trust in the first quarter worth $2,018,000. Nuveen LLC purchased a new position in shares of Redwood Trust in the first quarter worth $1,983,000. Ceredex Value Advisors LLC raised its holdings in shares of Redwood Trust by 24.4% in the first quarter. Ceredex Value Advisors LLC now owns 1,479,950 shares of the real estate investment trust’s stock worth $8,983,000 after buying an additional 289,900 shares during the last quarter. Finally, Mariner Investment Group LLC purchased a new position in shares of Redwood Trust in the first quarter worth $910,000. 74.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RWT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Redwood Trust from $6.50 to $5.75 and set a “market perform” rating for the company in a report on Tuesday, August 5th. BTIG Research reaffirmed a “buy” rating and issued a $8.50 price target on shares of Redwood Trust in a report on Friday, September 26th. Wall Street Zen cut shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 2nd. JMP Securities decreased their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating for the company in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.88.

Redwood Trust Stock Up 0.7%

RWT stock opened at $5.79 on Thursday. The firm has a market cap of $748.18 million, a PE ratio of -9.05 and a beta of 1.43. The company has a debt-to-equity ratio of 20.00, a quick ratio of 40.39 and a current ratio of 40.39. The firm’s fifty day moving average is $5.94 and its 200 day moving average is $5.83. Redwood Trust, Inc. has a one year low of $4.68 and a one year high of $7.90.

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

Redwood Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 12.4%. The ex-dividend date was Tuesday, September 23rd. Redwood Trust’s dividend payout ratio (DPR) is currently -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.