Northern Trust Corp Boosts Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Northern Trust Corp boosted its holdings in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,569,301 shares of the real estate investment trust's stock after acquiring an additional 197,719 shares during the quarter. Northern Trust Corp owned 1.18% of Redwood Trust worth $10,248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RWT. Invesco Ltd. raised its position in Redwood Trust by 150.9% during the 4th quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust's stock worth $13,031,000 after purchasing an additional 1,200,050 shares during the last quarter. Angel Oak Capital Advisors LLC acquired a new stake in shares of Redwood Trust in the fourth quarter valued at about $1,726,000. Boston Partners raised its position in shares of Redwood Trust by 8.3% during the fourth quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock worth $17,561,000 after acquiring an additional 206,698 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Redwood Trust by 18.0% during the fourth quarter. Van ECK Associates Corp now owns 1,085,593 shares of the real estate investment trust's stock worth $7,089,000 after acquiring an additional 165,281 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Redwood Trust by 17.1% in the fourth quarter. LSV Asset Management now owns 1,115,204 shares of the real estate investment trust's stock worth $7,282,000 after acquiring an additional 163,104 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RWT has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Jones Trading reaffirmed a "buy" rating and set a $7.00 price target on shares of Redwood Trust in a research report on Friday, May 2nd. JMP Securities lowered their price objective on Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Wall Street Zen upgraded Redwood Trust from a "sell" rating to a "hold" rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods decreased their target price on Redwood Trust from $7.75 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.44.

Redwood Trust Stock Down 0.3%

Shares of NYSE RWT traded down $0.02 during midday trading on Friday, hitting $5.49. 126,115 shares of the stock traded hands, compared to its average volume of 941,214. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36. Redwood Trust, Inc. has a one year low of $4.68 and a one year high of $8.15. The business has a 50 day moving average price of $5.79 and a two-hundred day moving average price of $6.37. The company has a market cap of $730.15 million, a PE ratio of 16.62 and a beta of 1.45.

Redwood Trust (NYSE:RWT - Get Free Report) last announced its quarterly 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 analysts predict that Redwood Trust, Inc. will post 0.78 EPS for the current year.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.72 dividend on an annualized basis and a yield of 13.13%. Redwood Trust's dividend payout ratio (DPR) is currently 327.27%.

About Redwood Trust

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.