Wulff Hansen & CO. Buys 108,669 Shares of Redwood Trust, Inc. (NYSE:RWT)

Wulff Hansen & CO. lifted its stake in Redwood Trust, Inc. (NYSE:RWT) by 549.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,463 shares of the real estate investment trust’s stock after buying an additional 108,669 shares during the quarter. Wulff Hansen & CO. owned about 0.10% of Redwood Trust worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC purchased a new position in Redwood Trust during the second quarter valued at approximately $69,000. MQS Management LLC bought a new position in Redwood Trust in the 1st quarter worth $72,000. Ameritas Investment Partners Inc. increased its stake in Redwood Trust by 26.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 3,000 shares in the last quarter. Quest Partners LLC bought a new stake in Redwood Trust during the fourth quarter valued at about $107,000. Finally, Raymond James Trust N.A. lifted its position in shares of Redwood Trust by 53.5% in the second quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 6,318 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Trading Up 0.4 %

RWT opened at $8.09 on Tuesday. The stock has a 50-day moving average of $7.28 and a 200 day moving average of $6.60. The company has a current ratio of 50.47, a quick 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 $8.10. The firm has a market cap of $1.07 billion, a P/E ratio of 115.50 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 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 period in the previous year, the business posted $0.14 earnings per share. As a group, research analysts forecast that Redwood Trust, Inc. will post 0.5 EPS for the current year.

Redwood Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 8.41%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, September 23rd. Redwood Trust’s dividend payout ratio is presently 914.29%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RWT. JPMorgan Chase & Co. lifted their target price on 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 boosted their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wedbush raised their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, JMP Securities boosted their price target on shares of 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Redwood Trust has an average rating of “Moderate Buy” and a consensus price target of $7.81.

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.