Redwood Trust, Inc. (NYSE:RWT) Shares Bought by Golden State Equity Partners

Golden State Equity Partners raised its holdings in Redwood Trust, Inc. (NYSE:RWT) by 19.3% during the 3rd quarter, Holdings Channel reports. The firm owned 70,562 shares of the real estate investment trust’s stock after buying an additional 11,396 shares during the quarter. Golden State Equity Partners’ holdings in Redwood Trust were worth $545,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Redwood Trust by 19.5% in the first quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock valued at $98,763,000 after purchasing an additional 2,530,937 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Redwood Trust by 2.1% in the first quarter. Clearbridge Investments LLC now owns 1,846,227 shares of the real estate investment trust’s stock worth $11,760,000 after acquiring an additional 37,514 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Redwood Trust by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,231 shares of the real estate investment trust’s stock worth $7,182,000 after acquiring an additional 127,143 shares during the last quarter. Van ECK Associates Corp boosted 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 worth $6,336,000 after acquiring an additional 174,317 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of Redwood Trust by 48.8% in the second quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock worth $5,883,000 after acquiring an additional 297,100 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

Redwood Trust Price Performance

RWT stock opened at $7.64 on Thursday. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97. The company has a market capitalization of $1.01 billion, a PE ratio of 109.14 and a beta of 1.58. Redwood Trust, Inc. has a 12-month low of $5.45 and a 12-month high of $8.15. The business’s fifty day moving average price is $7.59 and its 200 day moving average price is $6.93.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the firm posted $0.14 EPS. On average, sell-side analysts anticipate 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. Investors of record on Monday, September 23rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 8.90%. The ex-dividend date was Monday, September 23rd. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s payout ratio is currently 971.43%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RWT. Wells Fargo & Company lifted their price target on Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Raymond James lifted their price target on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JMP Securities boosted their price objective on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. Finally, Piper Sandler boosted 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Redwood Trust currently has an average rating of “Moderate Buy” and an average target price of $8.19.

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.