Ameritas Investment Partners Inc. acquired a new stake in Redwood Trust, Inc. (NYSE:RWT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,587 shares of the real estate investment trust’s stock, valued at approximately $109,000.
A number of other large investors have also bought and sold shares of the company. TFS Capital LLC acquired a new stake in Redwood Trust during the first quarter valued at approximately $185,000. Comerica Bank raised its stake 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 valued at $196,000 after buying an additional 95 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Redwood Trust by 19.5% in the first quarter. Eqis Capital Management Inc. now owns 11,996 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 1,959 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Redwood Trust during the fourth quarter valued at approximately $212,000. Finally, Advisory Services Network LLC acquired a new stake in Redwood Trust during the first quarter valued at approximately $227,000. 85.14% of the stock is currently owned by institutional investors and hedge funds.
Redwood Trust, Inc. (NYSE:RWT) opened at 16.93 on Wednesday. The company has a market cap of $1.31 billion, a P/E ratio of 9.62 and a beta of 0.90. Redwood Trust, Inc. has a 52 week low of $13.20 and a 52 week high of $17.43. The stock has a 50 day moving average of $16.86 and a 200 day moving average of $16.32.
Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Redwood Trust had a net margin of 48.45% and a return on equity of 13.22%. The business had revenue of $62 million for the quarter, compared to analysts’ expectations of $34.89 million. During the same period last year, the business earned $0.28 EPS. On average, analysts expect that Redwood Trust, Inc. will post $1.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date is Wednesday, June 14th. Redwood Trust’s dividend payout ratio (DPR) is presently 62.22%.
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Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Redwood Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. ValuEngine downgraded shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.75.
In related news, Director Karen R. Pallotta bought 3,027 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $16.53 per share, for a total transaction of $50,036.31. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Andrew P. Stone sold 3,730 shares of Redwood Trust stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $17.24, for a total transaction of $64,305.20. Following the completion of the sale, the general counsel now owns 49,626 shares of the company’s stock, valued at $855,552.24. The disclosure for this sale can be found here. 2.33% of the stock is owned by company insiders.
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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