Concurrent Investment Advisors LLC Takes Position in Redwood Trust, Inc. (NYSE:RWT)

Concurrent Investment Advisors LLC bought a new stake in shares of Redwood Trust, Inc. (NYSE:RWT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,618 shares of the real estate investment trust’s stock, valued at approximately $69,000.

Other hedge funds have also modified their holdings of the company. MQS Management LLC purchased a new stake in shares of Redwood Trust during the first quarter valued at $72,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Redwood Trust by 26.5% during the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 3,000 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Redwood Trust during the fourth quarter valued at $107,000. Raymond James Trust N.A. lifted its stake in 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 acquiring an additional 6,318 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in Redwood Trust by 9.1% in 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 acquiring an additional 1,889 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Stock Performance

Shares of RWT stock opened at $7.41 on Friday. The company has a debt-to-equity ratio of 12.97, a current ratio of 50.47 and a quick ratio of 50.47. Redwood Trust, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $8.00. The stock’s 50-day moving average is $7.09 and its two-hundred day moving average is $6.51. The firm has a market cap of $979.75 million, a P/E ratio of 106.14 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, beating 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 last year, the business posted $0.14 EPS. Analysts predict that Redwood Trust, Inc. will post 0.5 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.64%. The ex-dividend date of this dividend was Friday, June 21st. Redwood Trust’s dividend payout ratio is 914.29%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RWT. Piper Sandler increased their price objective on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Wedbush increased their price objective on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, JMP Securities increased 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. Four 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.81.

Redwood Trust Company 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.