Northern Trust Corp Has $10.25 Million Stake in Redwood Trust, Inc. (NYSE:RWT)

Northern Trust Corp increased its stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,569,301 shares of the real estate investment trust's stock after purchasing an additional 197,719 shares during the quarter. Northern Trust Corp owned about 1.18% of Redwood Trust worth $10,248,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Redwood Trust by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 154,404 shares of the real estate investment trust's stock worth $1,009,000 after purchasing an additional 19,094 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Redwood Trust by 239.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,566 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 8,863 shares during the period. MetLife Investment Management LLC lifted its holdings in Redwood Trust by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 75,463 shares of the real estate investment trust's stock worth $493,000 after purchasing an additional 5,951 shares during the period. Zacks Investment Management acquired a new stake in Redwood Trust in the fourth quarter worth about $74,000. Finally, Ceredex Value Advisors LLC lifted its holdings in Redwood Trust by 6.9% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,190,050 shares of the real estate investment trust's stock worth $7,771,000 after purchasing an additional 76,450 shares during the period. Institutional investors and hedge funds own 74.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RWT shares. Jones Trading reissued a "buy" rating and issued a $7.00 price target on shares of Redwood Trust in a report on Friday, May 2nd. Keefe, Bruyette & Woods cut their price target on shares of Redwood Trust from $7.75 to $7.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Thursday. Finally, UBS Group upped their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a "buy" rating in a report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $7.44.

Redwood Trust Trading Down 1.2%

RWT stock traded down $0.07 during mid-day trading on Friday, reaching $5.44. 835,907 shares of the stock traded hands, compared to its average volume of 944,825. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. Redwood Trust, Inc. has a 52-week low of $4.68 and a 52-week high of $8.15. The company has a market cap of $723.50 million, a P/E ratio of 16.47 and a beta of 1.45. The stock's fifty day moving average is $5.77 and its 200-day moving average is $6.36.

Redwood Trust (NYSE:RWT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). The business had revenue of $73.80 million during the quarter, compared to analyst estimates of $26.55 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. As a group, sell-side analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 24th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.25%. Redwood Trust's dividend payout ratio is 327.27%.

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.