Redwood Trust, Inc. (NYSE:RWT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,849 shares of the real estate investment trust’s stock after acquiring an additional 2,450 shares during the period. Victory Capital Management Inc.’s holdings in Redwood Trust were worth $220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Redwood Trust by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,260 shares of the real estate investment trust’s stock worth $13,325,000 after purchasing an additional 127,435 shares during the last quarter. Principal Financial Group Inc. boosted its position in Redwood Trust by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock worth $4,577,000 after acquiring an additional 2,296 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Redwood Trust by 8.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 1,847 shares during the period. Quest Partners LLC purchased a new position in shares of Redwood Trust during the 4th quarter worth $107,000. Finally, Sculati Wealth Management LLC boosted its holdings in shares of Redwood Trust by 6.6% during the fourth quarter. Sculati Wealth Management LLC now owns 162,804 shares of the real estate investment trust’s stock worth $1,206,000 after purchasing an additional 10,150 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 2.4 %

NYSE:RWT opened at $7.74 on Tuesday. The business’s 50-day moving average is $7.39 and its two-hundred day moving average is $6.66. The firm has a market capitalization of $1.02 billion, a PE ratio of 110.57 and a beta of 1.58. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The company has a debt-to-equity ratio of 12.97, a current ratio of 50.47 and a quick ratio of 50.47.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a return on equity of 4.93% and a net margin of 4.45%. During the same quarter last year, the firm posted $0.14 EPS. Research analysts predict that Redwood Trust, Inc. will post 0.5 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be paid a dividend of $0.17 per share. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.68 annualized dividend and a yield of 8.79%. Redwood Trust’s payout ratio is 971.43%.

Analyst Upgrades and Downgrades

RWT has been the topic of several recent analyst reports. JMP Securities increased their target price on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Raymond James upped their price objective on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Redwood Trust has an average rating of “Moderate Buy” and an average target price of $8.08.

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.