Ergoteles LLC purchased a new stake in shares of Redwood Trust, Inc. (NYSE:RWT - Get Rating) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 31,556 shares of the real estate investment trust's stock, valued at approximately $181,000.
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A number of other institutional investors also recently modified their holdings of RWT. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Redwood Trust during the second quarter worth about $99,000. AlphaCrest Capital Management LLC purchased a new position in shares of Redwood Trust during the 2nd quarter worth approximately $87,000. MetLife Investment Management LLC grew its holdings in shares of Redwood Trust by 4.2% during the 3rd quarter. MetLife Investment Management LLC now owns 62,232 shares of the real estate investment trust's stock worth $357,000 after acquiring an additional 2,522 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Redwood Trust during the 2nd quarter worth approximately $12,038,000. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Redwood Trust by 22.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 20,204 shares of the real estate investment trust's stock worth $156,000 after acquiring an additional 3,680 shares during the period. 71.73% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on RWT shares. StockNews.com upgraded Redwood Trust from a "sell" rating to a "hold" rating in a research note on Friday, February 10th. Wells Fargo & Company upped their price target on Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a research note on Friday, February 10th. Raymond James cut their price target on Redwood Trust from $11.00 to $10.00 and set a "strong-buy" rating on the stock in a research note on Sunday. JMP Securities upped their price target on Redwood Trust from $9.00 to $9.50 and gave the stock a "market outperform" rating in a research note on Tuesday, February 7th. Finally, Keefe, Bruyette & Woods cut their price target on Redwood Trust from $9.00 to $8.50 and set an "outperform" rating on the stock in a research note on Tuesday, February 14th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Redwood Trust presently has an average rating of "Moderate Buy" and an average price target of $9.44.
In other Redwood Trust news, CAO Collin L. Cochrane sold 11,706 shares of the firm's stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $6.86, for a total value of $80,303.16. Following the transaction, the chief accounting officer now directly owns 56,899 shares of the company's stock, valued at $390,327.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Redwood Trust news, insider Andrew P. Stone sold 7,000 shares of the business's stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $6.86, for a total transaction of $48,020.00. Following the completion of the sale, the insider now directly owns 106,821 shares in the company, valued at approximately $732,792.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Collin L. Cochrane sold 11,706 shares of the business's stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $6.86, for a total value of $80,303.16. Following the sale, the chief accounting officer now owns 56,899 shares of the company's stock, valued at $390,327.14. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
RWT stock opened at $7.57 on Wednesday. The stock has a market capitalization of $859.88 million, a PE ratio of -5.22 and a beta of 1.36. Redwood Trust, Inc. has a 12-month low of $5.51 and a 12-month high of $11.03. The company has a current ratio of 5.29, a quick ratio of 5.29 and a debt-to-equity ratio of 8.97. The stock's 50 day simple moving average is $7.71 and its 200 day simple moving average is $7.29.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Tuesday, December 20th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 12.15%. The ex-dividend date of this dividend was Monday, December 19th. Redwood Trust's payout ratio is currently -63.45%.
Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the following 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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