AXS Investments LLC Decreases Holdings in Redwood Trust, Inc. (NYSE:RWT)

AXS Investments LLC cut its holdings in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 28.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 317,893 shares of the real estate investment trust's stock after selling 127,706 shares during the period. AXS Investments LLC owned approximately 0.28% of Redwood Trust worth $2,356,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of Redwood Trust by 641.0% during the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 3,205 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Redwood Trust by 45.7% in 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 buying an additional 2,498 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Redwood Trust in the 3rd quarter worth about $92,000. Sigma Planning Corp boosted its holdings in Redwood Trust by 30.7% in the 3rd quarter. Sigma Planning Corp now owns 13,838 shares of the real estate investment trust's stock worth $99,000 after buying an additional 3,254 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Redwood Trust in the 4th quarter worth about $107,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RWT has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating on the stock in a research note on Wednesday, April 10th. JMP Securities reissued a "market outperform" rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Thursday, April 18th. Wells Fargo & Company decreased their target price on shares of Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 21st. Piper Sandler decreased their target price 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. Finally, UBS Group reduced their price target on shares of Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Redwood Trust currently has an average rating of "Moderate Buy" and a consensus price target of $7.66.

Redwood Trust Stock Performance

RWT traded down $0.19 on Thursday, reaching $6.20. The company had a trading volume of 734,337 shares, compared to its average volume of 1,358,054. 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 $818.67 million, a PE ratio of 88.50 and a beta of 1.50. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 10.66. The stock has a 50-day moving average price of $6.13 and a 200-day moving average price of $6.59.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a $0.16 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 10.33%. Redwood Trust's payout ratio is 914.29%.

About Redwood Trust

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.