Bank of New York Mellon Corp Buys 72,765 Shares of Redwood Trust, Inc. (NYSE:RWT)

Bank of New York Mellon Corp raised its position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,076,392 shares of the real estate investment trust's stock after purchasing an additional 72,765 shares during the period. Bank of New York Mellon Corp owned 0.81% of Redwood Trust worth $6,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RWT. Cibc World Markets Corp bought a new position in Redwood Trust during the fourth quarter valued at $80,000. Virtu Financial LLC bought a new position in Redwood Trust during the fourth quarter valued at $208,000. KLP Kapitalforvaltning AS bought a new position in Redwood Trust during the fourth quarter valued at $169,000. LPL Financial LLC grew its holdings in Redwood Trust by 11.9% during the fourth quarter. LPL Financial LLC now owns 145,459 shares of the real estate investment trust's stock valued at $950,000 after purchasing an additional 15,437 shares during the period. Finally, Invesco Ltd. grew its holdings in Redwood Trust by 150.9% during the fourth quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust's stock valued at $13,031,000 after purchasing an additional 1,200,050 shares during the period. 74.34% of the stock is owned by institutional investors.

Redwood Trust Trading Down 0.2%

Shares of NYSE RWT traded down $0.02 during midday trading on Friday, reaching $6.04. The company had a trading volume of 685,505 shares, compared to its average volume of 888,865. Redwood Trust, Inc. has a one year low of $4.68 and a one year high of $8.15. The company has a quick ratio of 39.35, a current ratio of 39.35 and a debt-to-equity ratio of 16.32. The firm's fifty day moving average price is $5.79 and its 200-day moving average price is $6.01. The stock has a market cap of $803.38 million, a PE ratio of 27.43 and a beta of 1.30.

Redwood Trust (NYSE:RWT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $73.80 million during the quarter, compared to the consensus estimate of $26.55 million. Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. On average, equities research 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 declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.93%. The ex-dividend date was Monday, June 23rd. Redwood Trust's dividend payout ratio (DPR) is currently 327.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group increased their price objective on Redwood Trust from $6.50 to $7.00 and gave the company a "buy" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods lowered Redwood Trust from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $7.00 to $6.50 in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on 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 reiterated a "buy" rating and set a $7.00 price objective on shares of Redwood Trust in a research note on Friday, May 2nd. Finally, JMP Securities decreased their price objective on Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $7.39.

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.