Royal Bank of Canada Has $692,000 Stake in Redwood Trust, Inc. $RWT

Royal Bank of Canada trimmed its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 55.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,330 shares of the real estate investment trust’s stock after selling 156,142 shares during the period. Royal Bank of Canada’s holdings in Redwood Trust were worth $692,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Clearstead Advisors LLC boosted its stake in Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 3,572 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 6,082 shares during the last quarter. Bank of Marin bought a new stake in shares of Redwood Trust during the 4th quarter valued at $58,000. Abel Hall LLC acquired a new position in shares of Redwood Trust in the 4th quarter valued at $58,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Redwood Trust by 136.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,823 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 6,255 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on RWT. Wells Fargo & Company decreased their price objective on Redwood Trust from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, June 24th. BTIG Research restated a “buy” rating and set a $6.00 target price on shares of Redwood Trust in a report on Tuesday, July 28th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citizens Jmp lowered their price target on Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Redwood Trust currently has a consensus rating of “Hold” and a consensus price target of $5.94.

Redwood Trust Stock Performance

NYSE RWT opened at $4.80 on Monday. Redwood Trust, Inc. has a one year low of $4.19 and a one year high of $6.97. The company has a debt-to-equity ratio of 31.69, a current ratio of 67.49 and a quick ratio of 67.49. The firm has a market cap of $602.94 million, a P/E ratio of -119.97 and a beta of 1.38. The stock’s 50-day moving average is $4.85 and its 200-day moving average is $5.39.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%.The business had revenue of $56.01 million during the quarter, compared to analyst estimates of $89.45 million. Sell-side analysts anticipate that Redwood Trust, Inc. will post 1.03 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 15.0%. The ex-dividend date was Tuesday, June 23rd. Redwood Trust’s payout ratio is presently -1,800.00%.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.