Teacher Retirement System of Texas bought a new stake in Redwood Trust, Inc. (NYSE:RWT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,472 shares of the real estate investment trust’s stock, valued at approximately $392,000.
A number of other large investors also recently added to or reduced their stakes in RWT. Public Employees Retirement System of Ohio boosted its holdings in Redwood Trust by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 7,003 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 113 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Redwood Trust by 35.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 40,999 shares of the real estate investment trust’s stock valued at $668,000 after purchasing an additional 10,780 shares during the period. Russell Investments Group Ltd. boosted its holdings in Redwood Trust by 27.8% in the third quarter. Russell Investments Group Ltd. now owns 106,130 shares of the real estate investment trust’s stock valued at $1,729,000 after purchasing an additional 23,071 shares during the period. SG Americas Securities LLC purchased a new position in Redwood Trust in the third quarter valued at $283,000. Finally, Van ECK Associates Corp boosted its holdings in Redwood Trust by 10.6% in the third quarter. Van ECK Associates Corp now owns 275,541 shares of the real estate investment trust’s stock valued at $4,489,000 after purchasing an additional 26,351 shares during the period. Hedge funds and other institutional investors own 88.34% of the company’s stock.
A number of research analysts recently issued reports on RWT shares. ValuEngine upgraded Redwood Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods upgraded Redwood Trust from a “market perform” rating to an “outperform” rating in a report on Thursday, December 7th. Finally, Zacks Investment Research upgraded Redwood Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. The company had revenue of $35.00 million during the quarter, compared to the consensus estimate of $37.55 million. Redwood Trust had a return on equity of 9.99% and a net margin of 41.42%. Redwood Trust’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. research analysts anticipate that Redwood Trust, Inc. will post 1.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date of this dividend is Wednesday, March 14th. Redwood Trust’s dividend payout ratio (DPR) is 69.14%.
In other Redwood Trust news, General Counsel Andrew P. Stone sold 5,000 shares of Redwood Trust stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $14.87, for a total transaction of $74,350.00. Following the completion of the sale, the general counsel now directly owns 53,015 shares of the company’s stock, valued at approximately $788,333.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is owned by insiders.
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Redwood Trust Profile
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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