Legal & General Group Plc acquired a new stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 284,593 shares of the real estate investment trust's stock, valued at approximately $1,349,000. Legal & General Group Plc owned approximately 0.23% of Redwood Trust at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in shares of Redwood Trust by 521.1% during the 4th quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust's stock worth $21,430,000 after acquiring an additional 3,251,302 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Redwood Trust by 10.2% in the third quarter. Wellington Management Group LLP now owns 15,020,483 shares of the real estate investment trust's stock worth $86,969,000 after buying an additional 1,395,675 shares during the period. Invesco Ltd. grew its holdings in shares of Redwood Trust by 25.4% during the fourth quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust's stock valued at $14,107,000 after buying an additional 516,630 shares in the last quarter. Jane Street Group LLC acquired a new stake in Redwood Trust during the 1st quarter worth about $2,018,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Redwood Trust by 15.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,169,992 shares of the real estate investment trust's stock valued at $12,000,000 after acquiring an additional 282,800 shares in the last quarter. 74.34% of the stock is owned by institutional investors.
Redwood Trust Stock Performance
Shares of RWT opened at $4.51 on Monday. The stock's 50-day moving average price is $4.76 and its 200 day moving average price is $5.29. The company has a quick ratio of 67.49, a current ratio of 67.49 and a debt-to-equity ratio of 31.69. The firm has a market capitalization of $566.50 million, a price-to-earnings ratio of -112.72 and a beta of 1.37. Redwood Trust, Inc. has a 12-month low of $4.19 and a 12-month high of $6.97.
Redwood Trust (NYSE:RWT - Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $56.01 million during the quarter, compared to analysts' expectations of $89.45 million. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%. As a group, research analysts predict that Redwood Trust, Inc. will post 1.03 earnings per share for the current year.
Redwood Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 16.0%. Redwood Trust's payout ratio is presently -1,800.00%.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Redwood Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 21st. BTIG Research reissued a "buy" rating and set a $6.00 target price on shares of Redwood Trust in a research note on Tuesday, July 28th. Wells Fargo & Company dropped their price target on shares of Redwood Trust from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods cut their price objective on Redwood Trust from $6.00 to $5.50 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Finally, Piper Sandler lowered their price target on Redwood Trust from $6.50 to $5.50 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Redwood Trust presently has a consensus rating of "Hold" and a consensus price target of $5.94.
Check Out Our Latest Report on Redwood Trust
Redwood Trust Company Profile
(
Free Report)
Redwood Trust, Inc NYSE: RWT is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.
The company's core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.
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