Capital Fund Management S.A. reduced its stake in Redwood Trust Inc. (NYSE:RWT) by 67.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,240 shares of the company’s stock after selling 29,560 shares during the period. Capital Fund Management S.A.’s holdings in Redwood Trust were worth $197,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in shares of Redwood Trust during the first quarter valued at approximately $239,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Redwood Trust during the first quarter valued at approximately $275,000. Fox Run Management L.L.C. bought a new stake in shares of Redwood Trust during the second quarter valued at approximately $286,000. Virginia Retirement System bought a new stake in shares of Redwood Trust during the first quarter valued at approximately $294,000. Finally, BlackRock Group LTD raised its stake in shares of Redwood Trust by 19.7% in the first quarter. BlackRock Group LTD now owns 60,120 shares of the company’s stock valued at $786,000 after buying an additional 9,913 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.
Redwood Trust Inc. (NYSE:RWT) traded up 0.36% during mid-day trading on Monday, reaching $13.83. 117,122 shares of the company were exchanged. The stock has a 50 day moving average of $13.98 and a 200-day moving average of $13.83. Redwood Trust Inc. has a one year low of $9.26 and a one year high of $15.24. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 10.08 and a beta of 0.71.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. Redwood Trust had a net margin of 41.54% and a return on equity of 12.09%. During the same period in the prior year, the business earned $0.31 EPS. On average, equities analysts expect that Redwood Trust Inc. will post $1.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date was Tuesday, September 13th. Redwood Trust’s payout ratio is 85.50%.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods lowered shares of Redwood Trust from an “outperform” rating to a “market perform” rating and set a $14.50 price objective on the stock. in a research report on Tuesday, July 19th. Finally, Maxim Group lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $15.55.
About Redwood Trust
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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