Wellington Management Group LLP Sells 2,311,127 Shares of Redwood Trust, Inc. $RWT

Wellington Management Group LLP decreased its position in Redwood Trust, Inc. (NYSE:RWT) by 20.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,735,371 shares of the real estate investment trust’s stock after selling 2,311,127 shares during the period. Wellington Management Group LLP owned approximately 0.07% of Redwood Trust worth $41,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UBS Group AG raised its position in Redwood Trust by 521.1% in the 4th quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock valued at $21,430,000 after buying an additional 3,251,302 shares during the last quarter. Invesco Ltd. raised its holdings in Redwood Trust by 25.4% during the fourth quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust’s stock worth $14,107,000 after acquiring an additional 516,630 shares in the last quarter. Bank of America Corp DE acquired a new position in Redwood Trust during the second quarter worth $2,032,000. Jane Street Group LLC bought a new position in shares of Redwood Trust in the 1st quarter valued at about $2,018,000. Finally, Legal & General Group Plc acquired a new stake in Redwood Trust in the 2nd quarter valued at about $1,349,000. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Stock Up 0.7%

Shares of NYSE RWT opened at $4.51 on Friday. The company has a debt-to-equity ratio of 31.69, a quick ratio of 67.49 and a current ratio of 67.49. Redwood Trust, Inc. has a 52 week low of $4.19 and a 52 week high of $6.97. The stock has a market capitalization of $566.51 million, a P/E ratio of -112.72 and a beta of 1.37. The stock’s fifty day moving average is $4.76 and its 200 day moving average is $5.30.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $89.45 million. Redwood Trust had a net margin of 0.42% and a return on equity of 16.02%. Sell-side analysts forecast that Redwood Trust, Inc. will post 1.03 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.72 annualized dividend and a dividend yield of 16.0%. Redwood Trust’s dividend payout ratio (DPR) is currently -1,800.00%.

Analyst Ratings Changes

A number of brokerages have weighed in on RWT. UBS Group lowered their price target on Redwood Trust from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Friday, August 21st. Zacks Research lowered Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, June 24th. JonesTrading cut their price objective on shares of Redwood Trust from $6.25 to $6.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $6.00 to $5.50 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.94.

Redwood Trust Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.