13,232 Shares in Redwood Trust, Inc. (NYSE:RWT) Acquired by Algert Global LLC

Algert Global LLC purchased a new stake in shares of Redwood Trust, Inc. (NYSE:RWT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,232 shares of the real estate investment trust’s stock, valued at approximately $86,000.

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

Redwood Trust Price Performance

Shares of RWT stock opened at $7.45 on Friday. The firm’s 50 day moving average price is $7.45 and its two-hundred day moving average price is $6.78. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The stock has a market cap of $985.04 million, a PE ratio of 43.82 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company earned $0.14 EPS. As a group, analysts forecast that Redwood Trust, Inc. will post 0.5 EPS for the current year.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 9.13%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s payout ratio is currently 400.00%.

Analyst Upgrades and Downgrades

RWT has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. upped their target price on shares of Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler raised their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JMP Securities boosted their target price on shares of Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Finally, Raymond James lifted their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.14.

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.