Voya Investment Management LLC Sells 89,855 Shares of Redwood Trust, Inc. (NYSE:RWT)

Voya Investment Management LLC decreased its stake in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 763,977 shares of the real estate investment trust's stock after selling 89,855 shares during the period. Voya Investment Management LLC owned approximately 0.58% of Redwood Trust worth $4,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Redwood Trust by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 641,410 shares of the real estate investment trust's stock valued at $4,188,000 after acquiring an additional 18,164 shares in the last quarter. Franklin Resources Inc. grew its stake in Redwood Trust by 4.6% in the third quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust's stock worth $548,000 after purchasing an additional 3,206 shares during the period. Van ECK Associates Corp raised its holdings in Redwood Trust by 18.0% in the fourth quarter. Van ECK Associates Corp now owns 1,085,593 shares of the real estate investment trust's stock worth $7,089,000 after purchasing an additional 165,281 shares in the last quarter. Boston Partners lifted its position in Redwood Trust by 8.3% during the fourth quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock valued at $17,561,000 after buying an additional 206,698 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Redwood Trust by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,003,627 shares of the real estate investment trust's stock worth $6,554,000 after buying an additional 89,335 shares during the period. Hedge funds and other institutional investors own 74.34% of the company's stock.

Redwood Trust Stock Performance

Shares of NYSE RWT traded down $0.04 during midday trading on Tuesday, hitting $5.93. 92,909 shares of the company's stock traded hands, compared to its average volume of 946,236. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36. The stock has a market capitalization of $787.92 million, a price-to-earnings ratio of 17.96 and a beta of 1.45. The firm has a fifty day moving average of $5.94 and a 200 day moving average of $6.51. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15.

Redwood Trust (NYSE:RWT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The business had revenue of $73.80 million during the quarter, compared to the consensus estimate of $26.55 million. On average, analysts forecast that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 12.15%. The ex-dividend date of this dividend was Monday, March 24th. Redwood Trust's dividend payout ratio is presently 327.27%.

Analyst Upgrades and Downgrades

RWT has been the topic of several research reports. JMP Securities dropped their price objective on shares of Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a research note on Thursday, April 17th. Jones Trading restated a "buy" rating and issued a $7.00 price target on shares of Redwood Trust in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. UBS Group raised their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a "buy" rating in a research report on Monday. Finally, StockNews.com raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Redwood Trust currently has a consensus rating of "Moderate Buy" and an average target price of $7.50.

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.