KBC Group NV lessened its position in Redwood Trust, Inc. (NYSE:RWT) by 33.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,326 shares of the real estate investment trust’s stock after selling 10,484 shares during the quarter. KBC Group NV’s holdings in Redwood Trust were worth $363,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of RWT. Teachers Advisors LLC increased its holdings in Redwood Trust by 1.3% during the 4th quarter. Teachers Advisors LLC now owns 125,825 shares of the real estate investment trust’s stock worth $1,914,000 after purchasing an additional 1,622 shares during the period. Bank of Montreal Can purchased a new stake in Redwood Trust during the 1st quarter worth about $2,009,000. Nationwide Fund Advisors increased its holdings in Redwood Trust by 23.2% during the 1st quarter. Nationwide Fund Advisors now owns 249,507 shares of the real estate investment trust’s stock worth $4,144,000 after purchasing an additional 46,931 shares during the period. Russell Investments Group Ltd. increased its holdings in Redwood Trust by 438.1% during the 1st quarter. Russell Investments Group Ltd. now owns 74,243 shares of the real estate investment trust’s stock worth $1,233,000 after purchasing an additional 60,445 shares during the period. Finally, Eqis Capital Management Inc. increased its holdings in Redwood Trust by 19.5% during the 1st quarter. Eqis Capital Management Inc. now owns 11,996 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 1,959 shares during the period. Hedge funds and other institutional investors own 84.65% of the company’s stock.
A number of research analysts have recently commented on RWT shares. BidaskClub downgraded Redwood Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded Redwood Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, ValuEngine downgraded Redwood Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st.
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Shares of Redwood Trust, Inc. (NYSE:RWT) traded up 0.68% during mid-day trading on Friday, hitting $16.21. The company had a trading volume of 220,301 shares. Redwood Trust, Inc. has a 52-week low of $13.48 and a 52-week high of $17.45. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 9.47 and a beta of 0.88. The stock’s 50-day moving average is $16.66 and its 200-day moving average is $16.78.
Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Redwood Trust had a net margin of 46.04% and a return on equity of 12.02%. The company had revenue of $60.00 million for the quarter, compared to the consensus estimate of $33.59 million. During the same period last year, the company earned $0.48 earnings per share. Equities analysts forecast that Redwood Trust, Inc. will post $1.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.12 annualized dividend and a dividend yield of 6.91%. Redwood Trust’s dividend payout ratio (DPR) is currently 64.00%.
Redwood Trust Profile
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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