Balyasny Asset Management L.P. Acquires 321,612 Shares of Redwood Trust, Inc. (NYSE:RWT)

Balyasny Asset Management L.P. boosted its stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,994,294 shares of the real estate investment trust's stock after buying an additional 321,612 shares during the quarter. Balyasny Asset Management L.P. owned approximately 1.50% of Redwood Trust worth $13,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Redwood Trust by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 641,410 shares of the real estate investment trust's stock worth $4,188,000 after buying an additional 18,164 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Redwood Trust by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust's stock valued at $548,000 after purchasing an additional 3,206 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Redwood Trust by 18.0% during the 4th quarter. Van ECK Associates Corp now owns 1,085,593 shares of the real estate investment trust's stock valued at $7,089,000 after purchasing an additional 165,281 shares in the last quarter. Boston Partners raised its holdings in shares of Redwood Trust by 8.3% during the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock valued at $17,561,000 after purchasing an additional 206,698 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Redwood Trust by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,003,627 shares of the real estate investment trust's stock valued at $6,554,000 after purchasing an additional 89,335 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company's stock.

Analysts Set New Price Targets

RWT has been the topic of several recent analyst reports. StockNews.com upgraded shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $7.75 to $7.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Jones Trading reissued a "buy" rating and issued a $7.00 target price on shares of Redwood Trust in a report on Friday, May 2nd. Finally, UBS Group boosted their price objective on Redwood Trust from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $7.44.

Redwood Trust Price Performance

Shares of RWT stock traded up $0.11 during trading hours on Monday, hitting $5.94. 687,336 shares of the company's stock were exchanged, compared to its average volume of 946,754. Redwood Trust, Inc. has a 12-month low of $4.68 and a 12-month high of $8.15. The company has a market capitalization of $789.92 million, a PE ratio of 18.00 and a beta of 1.45. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. The business's 50 day simple moving average is $5.89 and its 200-day simple moving average is $6.46.

Redwood Trust (NYSE:RWT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. The business had revenue of $73.80 million for the quarter, compared to the consensus estimate of $26.55 million. On average, equities research analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 24th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.72 annualized dividend and a yield of 12.12%. Redwood Trust's payout ratio is 327.27%.

Redwood Trust Company 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.