Catalyst Capital Advisors LLC boosted its holdings in Redwood Trust, Inc. (NYSE:RWT – Free Report) by 51.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,340 shares of the real estate investment trust’s stock after acquiring an additional 5,920 shares during the period. Catalyst Capital Advisors LLC’s holdings in Redwood Trust were worth $110,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Redwood Trust by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,245,804 shares of the real estate investment trust’s stock valued at $128,948,000 after purchasing an additional 150,771 shares during the period. State Street Corp increased its holdings in Redwood Trust by 1.9% in the third quarter. State Street Corp now owns 4,359,312 shares of the real estate investment trust’s stock valued at $25,022,000 after buying an additional 79,780 shares during the last quarter. Geode Capital Management LLC increased its holdings in Redwood Trust by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,157,851 shares of the real estate investment trust’s stock valued at $14,544,000 after buying an additional 47,154 shares during the last quarter. Invesco Ltd. increased its holdings in Redwood Trust by 104.5% in the first quarter. Invesco Ltd. now owns 1,912,012 shares of the real estate investment trust’s stock valued at $20,133,000 after buying an additional 976,831 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Redwood Trust by 4.2% in the first quarter. Clearbridge Investments LLC now owns 1,866,345 shares of the real estate investment trust’s stock valued at $12,579,000 after buying an additional 75,736 shares during the last quarter. 69.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RWT has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Redwood Trust in a research note on Thursday, October 5th. They issued a “hold” rating for the company. JMP Securities upped their price objective on shares of Redwood Trust from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, September 15th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.
Redwood Trust Price Performance
Shares of RWT opened at $6.58 on Friday. Redwood Trust, Inc. has a fifty-two week low of $5.47 and a fifty-two week high of $8.72. The company has a market capitalization of $751.70 million, a price-to-earnings ratio of -9.82 and a beta of 1.45. The firm has a 50-day simple moving average of $7.12 and a 200-day simple moving average of $6.83. The company has a debt-to-equity ratio of 9.84, a quick ratio of 6.85 and a current ratio of 6.99.
Redwood Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.64 annualized dividend and a dividend yield of 9.73%. Redwood Trust’s dividend payout ratio (DPR) is -95.52%.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.
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