Amalgamated Bank Sells 1,540 Shares of Redwood Trust, Inc. (NYSE:RWT)

Amalgamated Bank lessened its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 3.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 40,219 shares of the real estate investment trust’s stock after selling 1,540 shares during the quarter. Amalgamated Bank’s holdings in Redwood Trust were worth $261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System lifted its position in Redwood Trust by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 1,400 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Redwood Trust by 9.1% during the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 1,889 shares during the period. Victory Capital Management Inc. lifted its holdings in Redwood Trust by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 2,450 shares during the last quarter. EMC Capital Management boosted its stake in Redwood Trust by 11.3% in the 1st quarter. EMC Capital Management now owns 29,377 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 2,989 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in Redwood Trust by 4.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,768 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 2,993 shares in the last quarter. Institutional investors own 74.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RWT. Wedbush lifted their target price on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Piper Sandler raised their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. JMP Securities raised their price objective on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Raymond James lifted their price objective on Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued 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 price target of $8.08.

Redwood Trust Trading Down 0.3 %

Shares of RWT stock opened at $7.73 on Tuesday. Redwood Trust, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $8.15. The stock’s fifty day moving average price is $7.41 and its two-hundred day moving average price is $6.71. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. The company has a market cap of $1.02 billion, a PE ratio of 110.57 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping 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 in the previous year, the firm earned $0.14 EPS. Equities analysts predict that Redwood Trust, Inc. will post 0.5 EPS for the current fiscal year.

Redwood Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date of this dividend was Monday, September 23rd. This is a boost from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s dividend payout ratio is presently 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.