IndexIQ Advisors LLC boosted its position in Redwood Trust Inc. (NYSE:RWT) by 24.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 75,685 shares of the company’s stock after buying an additional 14,770 shares during the period. IndexIQ Advisors LLC owned 0.10% of Redwood Trust worth $1,072,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Redwood Trust by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 7,329 shares of the company’s stock worth $101,000 after buying an additional 461 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Redwood Trust during the second quarter worth approximately $115,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Redwood Trust during the second quarter worth approximately $141,000. Teacher Retirement System of Texas boosted its stake in shares of Redwood Trust by 7.1% in the second quarter. Teacher Retirement System of Texas now owns 10,846 shares of the company’s stock worth $150,000 after buying an additional 716 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Redwood Trust during the second quarter worth approximately $151,000. 87.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Redwood Trust Inc. (NYSE:RWT) traded up 1.25% on Friday, hitting $15.39. The stock had a trading volume of 66,361 shares. The stock has a market cap of $1.18 billion, a P/E ratio of 8.96 and a beta of 0.79. The firm has a 50 day moving average of $14.25 and a 200 day moving average of $14.12. Redwood Trust Inc. has a 12 month low of $9.26 and a 12 month high of $15.57.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Redwood Trust had a return on equity of 15.35% and a net margin of 48.35%. During the same period in the previous year, the company earned $0.22 earnings per share. On average, equities analysts forecast that Redwood Trust Inc. will post $1.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend is Tuesday, December 13th. Redwood Trust’s dividend payout ratio is currently 67.07%.
A number of equities research analysts have recently commented on RWT shares. Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, October 4th. Maxim Group cut shares of Redwood Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.72.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.