Eqis Capital Management Inc. boosted its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 21.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,576 shares of the real estate investment trust’s stock after buying an additional 2,580 shares during the period. Eqis Capital Management Inc.’s holdings in Redwood Trust were worth $248,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Redwood Trust during the first quarter worth about $107,000. Ameritas Investment Partners Inc. purchased a new position in Redwood Trust during the first quarter worth about $109,000. TFS Capital LLC purchased a new position in Redwood Trust during the first quarter worth about $185,000. Comerica Bank raised its position in Redwood Trust by 0.8% in the first quarter. Comerica Bank now owns 11,286 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 95 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Redwood Trust during the first quarter worth about $227,000. Institutional investors own 85.10% of the company’s stock.
Shares of Redwood Trust, Inc. (NYSE:RWT) opened at 17.14 on Wednesday. The company’s 50-day moving average is $17.15 and its 200-day moving average is $16.68. Redwood Trust, Inc. has a 52-week low of $13.22 and a 52-week high of $17.45. The firm has a market cap of $1.32 billion, a P/E ratio of 9.74 and a beta of 0.89.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. Redwood Trust had a return on equity of 12.10% and a net margin of 46.04%. The business had revenue of $60 million for the quarter, compared to analyst estimates of $33.59 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. Equities research analysts forecast that Redwood Trust, Inc. will post $1.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a yield of 6.53%. Redwood Trust’s payout ratio is presently 64.00%.
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A number of research analysts have recently commented on the stock. ValuEngine downgraded shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Redwood Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.
In other news, Director Karen R. Pallotta purchased 3,027 shares of Redwood Trust stock in a transaction dated Monday, May 22nd. The stock was acquired at an average cost of $16.53 per share, for a total transaction of $50,036.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.33% of the company’s stock.
About Redwood Trust
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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