Redwood Trust, Inc. (NYSE:RWT) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 247,100 shares of the real estate investment trust’s stock after selling 8,600 shares during the quarter. Swiss National Bank owned about 0.22% of Redwood Trust worth $2,982,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in Redwood Trust by 5.6% during the 1st quarter. BlackRock Inc. now owns 20,917,191 shares of the real estate investment trust’s stock worth $217,747,000 after acquiring an additional 1,113,684 shares during the period. Amundi Asset Management US Inc. boosted its position in Redwood Trust by 13.4% during the 1st quarter. Amundi Asset Management US Inc. now owns 2,588,749 shares of the real estate investment trust’s stock worth $26,950,000 after acquiring an additional 305,805 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Redwood Trust by 8.6% in the first quarter. Geode Capital Management LLC now owns 1,831,326 shares of the real estate investment trust’s stock valued at $19,064,000 after buying an additional 144,798 shares during the period. Peregrine Capital Management LLC lifted its holdings in shares of Redwood Trust by 13.0% in the first quarter. Peregrine Capital Management LLC now owns 1,764,192 shares of the real estate investment trust’s stock valued at $18,365,000 after buying an additional 202,442 shares during the period. Finally, Kempen Capital Management N.V. lifted its holdings in shares of Redwood Trust by 0.5% in the first quarter. Kempen Capital Management N.V. now owns 1,239,956 shares of the real estate investment trust’s stock valued at $12,908,000 after buying an additional 6,735 shares during the period. Institutional investors own 70.61% of the company’s stock.

NYSE:RWT opened at $12.67 on Thursday. The company has a current ratio of 6.63, a quick ratio of 6.63 and a debt-to-equity ratio of 6.97. Redwood Trust, Inc. has a 1-year low of $7.11 and a 1-year high of $12.75. The business’s fifty day moving average price is $12.22 and its 200 day moving average price is $11.48. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 4.49 and a beta of 0.97.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 23rd will be given a $0.21 dividend. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.18. This represents a $0.84 annualized dividend and a yield of 6.63%. The ex-dividend date is Wednesday, September 22nd. Redwood Trust’s dividend payout ratio is presently 1,800.00%.

Several analysts have recently weighed in on RWT shares. JMP Securities upped their price objective on Redwood Trust from $12.00 to $13.50 and gave the company a “market outperform” rating in a report on Thursday, June 24th. BTIG Research upped their price objective on Redwood Trust from $12.50 to $13.50 and gave the company a “buy” rating in a report on Tuesday, June 15th. Piper Sandler raised Redwood Trust from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $14.00 in a research report on Monday, July 19th. Credit Suisse Group boosted their target price on Redwood Trust from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, September 13th. Finally, Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, July 14th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.31.

Redwood Trust Company Profile

Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.

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Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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