MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings 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. increased its stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,835,003 shares of the real estate investment trust's stock after buying an additional 108,750 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.38% of Redwood Trust worth $11,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Redwood Trust during the 1st quarter valued at $37,000. AlphaQuest LLC lifted its holdings in shares of Redwood Trust by 165.5% during the 1st quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 5,354 shares during the period. Carrera Capital Advisors bought a new position in shares of Redwood Trust during the 1st quarter valued at $65,000. XTX Topco Ltd bought a new position in shares of Redwood Trust during the 1st quarter valued at $65,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of Redwood Trust during the 1st quarter valued at $68,000. 74.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RWT has been the topic of several research analyst reports. UBS Group increased their price target on Redwood Trust from $6.50 to $7.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. JMP Securities lowered their price target on Redwood Trust from $7.50 to $7.00 and set a "market outperform" rating on the stock in a report on Thursday, July 31st. Wall Street Zen cut Redwood Trust from a "hold" rating to a "strong sell" rating in a report on Saturday, August 2nd. Finally, 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 report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.25.

Redwood Trust Price Performance

RWT stock traded up $0.03 during trading on Friday, reaching $6.24. The company's stock had a trading volume of 791,409 shares, compared to its average volume of 846,913. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15. The company has a quick ratio of 40.39, a current ratio of 40.39 and a debt-to-equity ratio of 20.00. The company has a market capitalization of $806.35 million, a P/E ratio of -9.75 and a beta of 1.37. The company's fifty day moving average is $5.99 and its 200-day moving average is $5.90.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The business had revenue of ($38.10) million during the quarter, compared to analysts' expectations 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, research analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be given a dividend of $0.18 per share. The ex-dividend date 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 presently -112.50%.

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.