Mirae Asset Global Investments Co. Ltd. Has $7.23 Million Position in Redwood Trust, Inc. (NYSE:RWT)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 1,944.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 976,088 shares of the real estate investment trust's stock after acquiring an additional 928,337 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.85% of Redwood Trust worth $7,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RWT. Wellington Management Group LLP boosted its position in shares of Redwood Trust by 157.1% in the third quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust's stock worth $30,511,000 after buying an additional 2,614,898 shares during the period. Boston Partners purchased a new stake in shares of Redwood Trust in the third quarter worth about $12,015,000. Victory Capital Management Inc. boosted its position in shares of Redwood Trust by 383.2% in the third quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust's stock worth $915,000 after buying an additional 101,774 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Redwood Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust's stock worth $11,913,000 after buying an additional 44,071 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in shares of Redwood Trust in the third quarter worth about $4,070,000. Hedge funds and other institutional investors own 74.34% of the company's stock.

Redwood Trust Stock Performance

Shares of Redwood Trust stock traded down $0.10 on Friday, reaching $5.73. 1,238,367 shares of the company were exchanged, compared to its average volume of 1,996,478. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36. The company's 50-day moving average is $6.25 and its two-hundred day moving average is $6.74. The firm has a market cap of $753.95 million, a price-to-earnings ratio of -47.75 and a beta of 1.48. Redwood Trust, Inc. has a 1-year low of $5.47 and a 1-year high of $8.30.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust's payout ratio is -533.33%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RWT. Keefe, Bruyette & Woods reduced their price target on Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a report on Wednesday. Piper Sandler reduced their price target on Redwood Trust from $7.50 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, February 21st. Wedbush downgraded Redwood Trust from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $8.00 to $6.50 in a report on Thursday. Wells Fargo & Company reduced their price target on Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, February 21st. Finally, Raymond James cut their price objective on Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating on the stock in a research note on Friday, January 19th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Redwood Trust presently has an average rating of "Moderate Buy" and an average price target of $7.64.

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.