LSV Asset Management Cuts Stock Position in Redwood Trust, Inc. (NYSE:RWT)

LSV Asset Management lowered its stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 39.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,421,148 shares of the real estate investment trust's stock after selling 933,479 shares during the period. LSV Asset Management owned 1.24% of Redwood Trust worth $10,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Redwood Trust in the third quarter worth $101,000. Inspire Investing LLC purchased a new stake in shares of Redwood Trust during the 3rd quarter valued at about $306,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Redwood Trust by 45.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 2,498 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Redwood Trust by 3.4% in the third quarter. Nisa Investment Advisors LLC now owns 91,420 shares of the real estate investment trust's stock worth $652,000 after buying an additional 3,042 shares during the period. Finally, 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 purchasing an additional 101,774 shares during the period. Institutional investors own 74.34% of the company's stock.

Analysts Set New Price Targets

RWT has been the subject of several research analyst reports. UBS Group decreased their target price on Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods cut their price objective on Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 21st. JMP Securities restated a "market outperform" rating and set a $8.00 price objective on shares of Redwood Trust in a research report on Thursday, April 18th. Finally, Piper Sandler dropped their price target on shares of Redwood Trust from $7.50 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 21st. Four research 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, Redwood Trust presently has a consensus rating of "Moderate Buy" and an average price target of $7.66.

Redwood Trust Stock Down 1.0 %

Redwood Trust stock traded down $0.07 during midday trading on Wednesday, hitting $6.27. 840,823 shares of the company's stock were exchanged, compared to its average volume of 1,426,650. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.30. The company has a debt-to-equity ratio of 10.08, a quick ratio of 7.36 and a current ratio of 10.79. The company has a market cap of $824.35 million, a PE ratio of 89.50 and a beta of 1.50. The firm has a 50-day moving average of $6.05 and a two-hundred day moving average of $6.60.

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 10.22%. The ex-dividend date was Wednesday, March 20th. Redwood Trust's dividend payout ratio (DPR) is 914.29%.

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.