RBO & Co. LLC acquired a new position in Redwood Trust, Inc. (NYSE:RWT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 701,788 shares of the company’s stock, valued at approximately $10,674,000. Redwood Trust accounts for about 3.2% of RBO & Co. LLC’s investment portfolio, making the stock its 10th largest position. RBO & Co. LLC owned about 0.92% of Redwood Trust at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of Redwood Trust by 11.8% in the fourth quarter. Van ECK Associates Corp now owns 186,478 shares of the company’s stock worth $2,836,000 after buying an additional 19,750 shares during the period. State Street Corp raised its position in shares of Redwood Trust by 5.1% in the fourth quarter. State Street Corp now owns 1,537,847 shares of the company’s stock worth $23,392,000 after buying an additional 75,049 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Redwood Trust during the fourth quarter worth $212,000. Doheny Asset Management CA raised its position in shares of Redwood Trust by 2.2% in the third quarter. Doheny Asset Management CA now owns 138,617 shares of the company’s stock worth $1,963,000 after buying an additional 3,000 shares in the last quarter. Finally, Analytic Investors LLC raised its position in shares of Redwood Trust by 283.5% in the third quarter. Analytic Investors LLC now owns 104,449 shares of the company’s stock worth $1,479,000 after buying an additional 77,210 shares in the last quarter. 83.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Redwood Trust, Inc. (NYSE:RWT) traded down 0.85% during midday trading on Monday, reaching $16.34. The company had a trading volume of 352,612 shares. Redwood Trust, Inc. has a 52 week low of $9.31 and a 52 week high of $16.62. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.51 and a beta of 0.71. The stock has a 50-day moving average of $15.64 and a 200 day moving average of $14.75.
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Separately, Zacks Investment Research lowered Redwood Trust from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.72.
In other Redwood Trust news, General Counsel Andrew P. Stone sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $15.30, for a total value of $76,500.00. Following the transaction, the general counsel now directly owns 50,896 shares of the company’s stock, valued at approximately $778,708.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.35% of the company’s stock.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.
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