Everence Capital Management Inc. Has $155,000 Stake in Redwood Trust, Inc. (NYSE:RWT)

Everence Capital Management Inc. trimmed its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 49.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,050 shares of the real estate investment trust’s stock after selling 19,820 shares during the period. Everence Capital Management Inc.’s holdings in Redwood Trust were worth $155,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Redwood Trust by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 2,043 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Redwood Trust in the 2nd quarter worth approximately $69,000. MQS Management LLC acquired a new stake in Redwood Trust in the 1st quarter worth approximately $72,000. Creative Planning acquired a new stake in Redwood Trust in the 3rd quarter worth approximately $91,000. Finally, Algert Global LLC acquired a new stake in Redwood Trust in the 2nd quarter worth approximately $86,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RWT shares. Wedbush boosted 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. Raymond James boosted 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. Wells Fargo & Company boosted their target price on Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler lifted their price target on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.19.

Redwood Trust Stock Performance

Shares of NYSE RWT opened at $7.44 on Wednesday. The company has a market cap of $983.06 million, a P/E ratio of 43.74 and a beta of 1.58. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The business’s 50 day moving average is $7.54 and its two-hundred day moving average is $6.87.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (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 in the previous year, the firm earned $0.14 EPS. On average, equities analysts expect that Redwood Trust, Inc. will post 0.52 EPS for the current year.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.17 per share. 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.15%. Redwood Trust’s payout ratio is currently 400.00%.

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.