Charles Schwab Investment Management Inc. Sells 174,932 Shares of Redwood Trust, Inc. (NYSE:RWT)

Charles Schwab Investment Management Inc. cut its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,608,143 shares of the real estate investment trust’s stock after selling 174,932 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Redwood Trust were worth $12,431,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC grew its stake in shares of Redwood Trust by 22.8% in the third quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after purchasing an additional 207,088 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Redwood Trust by 21.7% in the second quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after buying an additional 174,317 shares during the period. Rhumbline Advisers raised its position in shares of Redwood Trust by 1.6% during the second quarter. Rhumbline Advisers now owns 390,185 shares of the real estate investment trust’s stock worth $2,532,000 after acquiring an additional 6,242 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Redwood Trust by 7.9% during the second quarter. Public Sector Pension Investment Board now owns 290,767 shares of the real estate investment trust’s stock worth $1,887,000 after acquiring an additional 21,232 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of Redwood Trust by 12.7% in the second quarter. Wedbush Securities Inc. now owns 271,088 shares of the real estate investment trust’s stock worth $1,759,000 after acquiring an additional 30,486 shares during the period. 74.34% of the stock is owned by institutional investors.

Redwood Trust Price Performance

RWT stock opened at $7.20 on Monday. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.15. The stock has a market capitalization of $952.32 million, a PE ratio of 13.09 and a beta of 1.57. The company’s 50-day moving average is $7.34 and its 200-day moving average is $7.13. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 9.44%. 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 (DPR) is 123.64%.

Analyst Ratings Changes

A number of analysts have weighed in on RWT shares. Raymond James increased 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 report on Thursday, September 19th. JMP Securities increased their price objective on shares of Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research report on Friday, October 4th. 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, September 20th. JPMorgan Chase & Co. increased their price target on Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.16.

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.