Mesirow Institutional Investment Management Inc. acquired a new position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,787,619 shares of the real estate investment trust's stock, valued at approximately $13,246,000. Mesirow Institutional Investment Management Inc. owned approximately 1.56% of Redwood Trust as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of the business. Simon Quick Advisors LLC lifted its position in shares of Redwood Trust by 6.3% in the fourth quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust's stock worth $187,000 after purchasing an additional 1,488 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Redwood Trust by 2.4% during the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust's stock valued at $540,000 after acquiring an additional 1,715 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Redwood Trust by 45.7% in the third 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 holdings in shares of Redwood Trust by 3.4% during the third quarter. Nisa Investment Advisors LLC now owns 91,420 shares of the real estate investment trust's stock worth $652,000 after acquiring an additional 3,042 shares in the last quarter. Finally, Swiss National Bank boosted its position in Redwood Trust by 1.3% during the third quarter. Swiss National Bank now owns 250,700 shares of the real estate investment trust's stock valued at $1,787,000 after purchasing an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company's stock.
Redwood Trust Stock Performance
Shares of NYSE RWT traded down $0.01 during trading hours on Friday, hitting $6.45. 725,024 shares of the company's stock were exchanged, compared to its average volume of 1,135,756. The company's 50-day moving average price is $6.06 and its 200-day moving average price is $6.60. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.30. The stock has a market capitalization of $852.37 million, a price-to-earnings ratio of 92.14 and a beta of 1.50. The company has a debt-to-equity ratio of 10.66, a current ratio of 9.09 and a quick ratio of 7.36.
Redwood Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 9.92%. Redwood Trust's payout ratio is 914.29%.
Analysts Set New Price Targets
Several brokerages have weighed in on RWT. UBS Group dropped their target price on Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods reduced their target price on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a research note on Wednesday, April 10th. Piper Sandler dropped their price target on shares of Redwood Trust from $7.50 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Wedbush reaffirmed a "neutral" rating and issued a $6.50 price objective on shares of Redwood Trust in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company decreased their price objective on shares of Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, February 21st. Four 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.66.
Check Out Our Latest Analysis on RWT
Redwood Trust Company Profile
(
Free Report)
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.
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