Voloridge Investment Management LLC Grows Stock Position in Redwood Trust, Inc. (NYSE:RWT)

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Voloridge Investment Management LLC raised its position in Redwood Trust, Inc. (NYSE:RWT) by 169.5% in the 3rd quarter, Holdings Channel reports. The fund owned 225,421 shares of the real estate investment trust’s stock after purchasing an additional 141,784 shares during the period. Voloridge Investment Management LLC’s holdings in Redwood Trust were worth $3,699,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RWT. Point72 Asset Management L.P. acquired a new position in shares of Redwood Trust during the third quarter worth $6,466,000. Integrated Wealth Concepts LLC grew its holdings in Redwood Trust by 10.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,087 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 1,486 shares in the last quarter. California State Teachers Retirement System grew its holdings in Redwood Trust by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 149,852 shares of the real estate investment trust’s stock valued at $2,459,000 after purchasing an additional 1,790 shares in the last quarter. Stifel Financial Corp grew its holdings in Redwood Trust by 68.3% during the 3rd quarter. Stifel Financial Corp now owns 127,149 shares of the real estate investment trust’s stock valued at $2,092,000 after purchasing an additional 51,595 shares in the last quarter. Finally, State Street Corp increased its stake in Redwood Trust by 6.7% during the 3rd quarter. State Street Corp now owns 3,118,627 shares of the real estate investment trust’s stock worth $51,177,000 after buying an additional 196,773 shares during the period. 94.05% of the stock is owned by institutional investors.

RWT stock opened at $16.25 on Tuesday. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 6.33. Redwood Trust, Inc. has a 52-week low of $14.29 and a 52-week high of $17.28. The stock’s 50 day moving average is $16.38 and its two-hundred day moving average is $16.48. The company has a market capitalization of $1.82 billion, a PE ratio of 9.13 and a beta of 0.58.

Redwood Trust (NYSE:RWT) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The business had revenue of $34.00 million during the quarter, compared to analyst estimates of $44.50 million. Redwood Trust had a net margin of 19.44% and a return on equity of 10.37%. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, sell-side analysts anticipate that Redwood Trust, Inc. will post 1.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.38%. Redwood Trust’s dividend payout ratio (DPR) is presently 67.42%.

A number of brokerages have commented on RWT. Zacks Investment Research lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Nomura raised their target price on Redwood Trust from $17.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, ValuEngine raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Redwood Trust currently has an average rating of “Buy” and an average price target of $17.75.

Redwood Trust Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company 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, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.

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Want to see what other hedge funds are holding RWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redwood Trust, Inc. (NYSE:RWT).

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

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