UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 79,094 Shares of Redwood Trust, Inc. (NYSE:RWT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 37.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 291,563 shares of the real estate investment trust’s stock after purchasing an additional 79,094 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Redwood Trust were worth $2,254,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Redwood Trust in the 2nd quarter valued at about $242,000. Nisa Investment Advisors LLC grew its stake in Redwood Trust by 7.1% in the second quarter. Nisa Investment Advisors LLC now owns 93,427 shares of the real estate investment trust’s stock worth $606,000 after purchasing an additional 6,192 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in 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 period. Ceredex Value Advisors LLC raised its position in Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock valued at $5,883,000 after purchasing an additional 297,100 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of Redwood Trust by 53.5% in the 2nd quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 6,318 shares during the period. 74.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RWT. Wells Fargo & Company raised their price target 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 target price (down previously from $8.00) on shares of Redwood Trust in a research report on Monday, December 9th. JMP Securities upped their price target 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. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Raymond James upped their target price on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a hold rating, three 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 a consensus rating of “Moderate Buy” and an average price target of $8.03.

Redwood Trust Stock Performance

Shares of RWT stock opened at $7.13 on Friday. Redwood Trust, Inc. has a 12-month low of $5.45 and a 12-month high of $8.15. The business’s fifty day simple moving average is $7.28 and its 200-day simple moving average is $7.15. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. The company has a market cap of $943.09 million, a PE ratio of 12.96 and a beta of 1.57.

Redwood Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 23rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This is a boost from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 10.10%. Redwood Trust’s dividend payout ratio (DPR) is 123.64%.

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.