67,939 Shares in Redwood Trust, Inc. (RWT) Purchased by Sterling Capital Management LLC

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Sterling Capital Management LLC acquired a new position in shares of Redwood Trust, Inc. (NYSE:RWT) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 67,939 shares of the real estate investment trust’s stock, valued at approximately $1,103,000.

A number of other institutional investors also recently bought and sold shares of RWT. IFP Advisors Inc increased its position in Redwood Trust by 560.6% during the 3rd quarter. IFP Advisors Inc now owns 6,606 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 5,606 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Redwood Trust in the 2nd quarter worth about $166,000. HL Financial Services LLC acquired a new stake in Redwood Trust in the 2nd quarter worth about $169,000. Verition Fund Management LLC acquired a new stake in Redwood Trust in the 2nd quarter worth about $182,000. Finally, Trilogy Capital Inc. acquired a new stake in Redwood Trust in the 2nd quarter worth about $221,000. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Shares of NYSE:RWT opened at $16.83 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 3.82. Redwood Trust, Inc. has a 12-month low of $14.29 and a 12-month high of $17.50. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.40 and a beta of 0.68.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Redwood Trust had a return on equity of 13.19% and a net margin of 35.10%. The firm had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.57 million. During the same period last year, the company earned $0.35 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts expect that Redwood Trust, Inc. will post 1.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Thursday, December 13th. Redwood Trust’s payout ratio is 86.33%.

A number of brokerages have issued reports on RWT. Raymond James began coverage on Redwood Trust in a research note on Friday, October 12th. They issued an “outperform” rating and a $18.50 price target on the stock. Zacks Investment Research lowered Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine lowered Redwood Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Finally, Compass Point set a $18.00 price target on Redwood Trust and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Redwood Trust presently has an average rating of “Buy” and a consensus price target of $17.88.

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Redwood Trust Profile

Redwood Trust, Inc, together with its subsidiaries, engages in mortgage banking activities in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, and issued by third parties and other credit risk-related investments; and invests in residential loans held for investment and mortgage servicing rights associated with residential loans.

Read More: Penny Stocks, What You Need To Know

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Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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