Dynamic Technology Lab Private Ltd Acquires Shares of 49,024 Redwood Trust, Inc. $RWT

Key Points

• Dynamic Technology Lab Private Ltd has acquired 49,024 shares of Redwood Trust, Inc. valued at approximately $298,000, indicating growing institutional interest in the real estate investment trust.
• Redwood Trust announced a quarterly dividend of $0.18 per share, which reflects an annualized payout of $0.72 and a significant dividend yield of 11.5%.
• Analysts have varying ratings on Redwood Trust, with recent price targets set between $5.75 and $7.00, leading to a consensus rating of "Moderate Buy."

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 49,024 shares of the real estate investment trust's stock, valued at approximately $298,000.

A number of other institutional investors also recently added to or reduced their stakes in RWT. Quantbot Technologies LP acquired a new stake in Redwood Trust during the first quarter valued at approximately $37,000. AlphaQuest LLC boosted its holdings in Redwood Trust by 165.5% during the first quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 5,354 shares in the last quarter. Carrera Capital Advisors acquired a new stake in Redwood Trust during the first quarter valued at approximately $65,000. XTX Topco Ltd bought a new position in shares of Redwood Trust in the first quarter valued at approximately $65,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of Redwood Trust in the first quarter valued at approximately $68,000. 74.34% of the stock is owned by institutional investors and hedge funds.

Redwood Trust Stock Performance

Shares of Redwood Trust stock opened at $6.24 on Friday. 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 firm has a market cap of $806.35 million, a P/E ratio of -9.75 and a beta of 1.37. The firm has a 50 day simple moving average of $5.99 and a 200 day simple moving average of $5.90. 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 - Get Free Report) last issued 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). The company had revenue of ($38.10) million during 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%. Sell-side analysts predict that Redwood Trust, Inc. will post 0.78 earnings per share 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 issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.5%. Redwood Trust's dividend payout ratio (DPR) is currently -112.50%.

Analysts Set New Price Targets

RWT has been the subject of a number of research analyst reports. JMP Securities cut their target price 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. Keefe, Bruyette & Woods cut 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. Wall Street Zen cut shares of Redwood Trust from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 2nd. Finally, UBS Group lifted their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.25.

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.

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