Intech Investment Management LLC Acquires New Stake in Redwood Trust, Inc. (NYSE:RWT)

Intech Investment Management LLC purchased a new stake in Redwood Trust, Inc. (NYSE:RWT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,347 shares of the real estate investment trust’s stock, valued at approximately $113,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new stake in Redwood Trust during the second quarter valued at $69,000. MQS Management LLC acquired a new stake in Redwood Trust during the first quarter worth approximately $72,000. Ameritas Investment Partners Inc. increased its holdings in Redwood Trust by 26.5% in the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 3,000 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Redwood Trust by 53.5% in the second quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 6,318 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in shares of Redwood Trust by 9.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 1,889 shares during the period. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RWT has been the topic of a number of research reports. JMP Securities boosted their target price on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Wedbush raised their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Wells Fargo & Company raised their price objective on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Finally, Piper Sandler increased their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Redwood Trust has an average rating of “Moderate Buy” and a consensus target price of $8.08.

Redwood Trust Trading Up 1.2 %

NYSE RWT opened at $7.75 on Monday. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97. The firm has a market capitalization of $1.02 billion, a P/E ratio of 110.71 and a beta of 1.58. The business has a fifty day simple moving average of $7.41 and a 200 day simple moving average of $6.70. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15.

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

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 8.77%. Redwood Trust’s dividend payout ratio is currently 971.43%.

Redwood Trust 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.