Wedbush Securities Inc. Grows Stock Holdings in Redwood Trust, Inc. (NYSE:RWT)

Wedbush Securities Inc. lifted its position in Redwood Trust, Inc. (NYSE:RWT) by 12.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 271,088 shares of the real estate investment trust’s stock after buying an additional 30,486 shares during the quarter. Wedbush Securities Inc. owned approximately 0.21% of Redwood Trust worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Redwood Trust by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 1,400 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Redwood Trust by 8.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 1,847 shares during the period. Mutual of America Capital Management LLC grew its stake in Redwood Trust by 9.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 1,889 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Redwood Trust by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock worth $4,577,000 after purchasing an additional 2,296 shares during the period. Finally, Victory Capital Management Inc. raised its position in Redwood Trust by 7.8% in the 2nd quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 2,450 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Wall Street Analyst Weigh In

RWT has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a research report on Monday, August 5th. Wedbush raised their price target on Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, JMP Securities raised their target price on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Redwood Trust currently has a consensus rating of “Moderate Buy” and an average price target of $7.81.

Redwood Trust Stock Performance

Shares of RWT opened at $7.38 on Tuesday. The stock has a market capitalization of $975.12 million, a P/E ratio of 105.36 and a beta of 1.58. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.00. The company’s fifty day moving average is $7.15 and its two-hundred day moving average is $6.54.

Redwood Trust (NYSE:RWT) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $0.14 EPS. On average, sell-side analysts predict that Redwood Trust, Inc. will post 0.5 earnings per share for the current year.

About Redwood Trust

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.