Wellington Management Group LLP Has $62.97 Million Stock Position in Redwood Trust, Inc. $RWT

Key Points

• Wellington Management Group LLP has reduced its stake in Redwood Trust, Inc. by 8.7%, now owning 10,374,524 shares valued at approximately $62.97 million.
• Redwood Trust reported a quarterly EPS of $0.18, slightly below analysts' estimates of $0.19, with a negative net margin of 6.93% and a revenue of -$38.10 million.
• The company declared an annualized dividend yield of 11.8%, with a recent payout of $0.18 per share, although its payout ratio stands at -112.50%.

Wellington Management Group LLP decreased its position in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,374,524 shares of the real estate investment trust's stock after selling 994,780 shares during the quarter. Wellington Management Group LLP owned 7.80% of Redwood Trust worth $62,973,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Redwood Trust by 3.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust's stock worth $360,000 after acquiring an additional 1,767 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Redwood Trust by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust's stock worth $925,000 after acquiring an additional 2,326 shares during the last quarter. Focus Partners Wealth grew its holdings in Redwood Trust by 14.1% during the 4th quarter. Focus Partners Wealth now owns 20,164 shares of the real estate investment trust's stock worth $132,000 after acquiring an additional 2,488 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Redwood Trust by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 81,897 shares of the real estate investment trust's stock worth $497,000 after acquiring an additional 3,049 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Redwood Trust by 8.6% during the 4th quarter. MetLife Investment Management LLC now owns 75,463 shares of the real estate investment trust's stock worth $493,000 after acquiring an additional 5,951 shares during the last quarter. Institutional investors own 74.34% of the company's stock.

Redwood Trust Trading Up 0.4%

Shares of NYSE:RWT traded up $0.03 during mid-day trading on Thursday, reaching $6.03. The stock had a trading volume of 150,646 shares, compared to its average volume of 1,006,068. The firm has a market cap of $778.55 million, a PE ratio of -9.41 and a beta of 1.31. The firm has a 50 day simple moving average of $5.91 and a two-hundred day simple moving average of $5.92. The company has a current ratio of 40.39, a quick ratio of 40.39 and a debt-to-equity ratio of 20.00. Redwood Trust, Inc. has a twelve month low of $4.68 and a twelve month high of $8.15.

Redwood Trust (NYSE:RWT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The firm had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. Redwood Trust had a negative net margin of 6.93% and a positive return on equity of 8.70%. On average, research analysts predict that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 12.0%. The ex-dividend date was Monday, June 23rd. Redwood Trust's dividend payout ratio (DPR) is -112.50%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Redwood Trust from $6.50 to $5.75 and set a "market perform" rating on the stock in a report on Tuesday, August 5th. UBS Group decreased their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a "buy" rating on the stock in a report on Thursday, July 31st. Wall Street Zen lowered shares of Redwood Trust from a "hold" rating to a "strong sell" rating in a report on Saturday, August 2nd. JMP Securities cut their target price on shares of Redwood Trust from $7.50 to $7.00 and set a "market outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Jones Trading restated a "buy" rating and set a $7.00 target price on shares of Redwood Trust in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.18.

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.