MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $11.14 Million Stock Position in Redwood Trust, Inc. $RWT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Redwood Trust, Inc. by 6.3%, acquiring an additional 108,750 shares, bringing its total holdings to 1,835,003 shares worth approximately $11.1 million.
• Redwood Trust's stock has received mixed ratings from analysts, with one downgrade to "strong sell" and price targets ranging from $5.75 to $7.00.
• The company announced a quarterly dividend of $0.18 per share, resulting in an annualized dividend yield of 11.6%, although its dividend payout ratio is currently negative at -112.50%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,835,003 shares of the real estate investment trust's stock after acquiring an additional 108,750 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.38% of Redwood Trust worth $11,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RWT. LSV Asset Management grew its position in Redwood Trust by 58.9% in the first quarter. LSV Asset Management now owns 1,772,345 shares of the real estate investment trust's stock valued at $10,758,000 after acquiring an additional 657,141 shares during the last quarter. Nuveen LLC bought a new position in Redwood Trust in the first quarter valued at about $1,983,000. Ceredex Value Advisors LLC grew its position in 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 valued at $8,983,000 after acquiring an additional 289,900 shares during the last quarter. Northern Trust Corp grew its position in Redwood Trust by 14.4% in the fourth quarter. Northern Trust Corp now owns 1,569,301 shares of the real estate investment trust's stock valued at $10,248,000 after acquiring an additional 197,719 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new position in Redwood Trust in the first quarter valued at about $910,000. Institutional investors own 74.34% of the company's stock.

Redwood Trust Trading Down 0.8%

Shares of Redwood Trust stock traded down $0.05 during midday trading on Monday, reaching $6.17. The company had a trading volume of 121,163 shares, compared to its average volume of 996,837. The stock has a fifty day moving average price of $5.99 and a 200 day moving average price of $5.89. 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 $797.16 million, a PE ratio of -9.65 and a beta of 1.37. 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 posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 EPS 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 positive return on equity of 8.70% and a negative net margin of 6.93%. On average, equities analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date of this dividend is Tuesday, September 23rd. Redwood Trust's payout ratio is currently -112.50%.

Wall Street Analysts Forecast Growth

RWT has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on Redwood Trust from $6.50 to $5.75 and set a "market perform" rating on the stock in a research report on Tuesday, August 5th. Wall Street Zen lowered Redwood Trust from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 2nd. JMP Securities cut their price target on Redwood Trust from $7.50 to $7.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 31st. Finally, UBS Group lifted their price target on Redwood Trust from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Redwood Trust presently has an average rating of "Moderate Buy" and an average price target 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.