Nisa Investment Advisors LLC Sells 4,204 Shares of Redwood Trust, Inc. (NYSE:RWT)

Nisa Investment Advisors LLC lessened its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,216 shares of the real estate investment trust’s stock after selling 4,204 shares during the quarter. Nisa Investment Advisors LLC owned 0.08% of Redwood Trust worth $646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Redwood Trust by 1.2% during the 1st 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 in the last quarter. State Street Corp increased its stake in Redwood Trust by 1.9% during the 3rd quarter. State Street Corp now owns 4,359,312 shares of the real estate investment trust’s stock valued at $25,022,000 after purchasing an additional 79,780 shares in the last quarter. Wellington Management Group LLP increased its stake in Redwood Trust by 157.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock valued at $30,511,000 after purchasing an additional 2,614,898 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Redwood Trust by 15.6% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust’s stock valued at $26,932,000 after purchasing an additional 509,536 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Redwood Trust by 9.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,357,620 shares of the real estate investment trust’s stock valued at $15,018,000 after purchasing an additional 199,769 shares in the last quarter. Institutional investors own 74.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on RWT shares. UBS Group decreased their price target on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods cut their price objective on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a report on Wednesday, April 10th. Piper Sandler cut their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price objective on shares of Redwood Trust in a report on Wednesday, April 10th. Finally, Wedbush downgraded shares of Redwood Trust from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $6.50 in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.64.

Redwood Trust Price Performance

Shares of NYSE:RWT opened at $5.50 on Wednesday. The company’s 50-day moving average is $6.20 and its 200 day moving average is $6.72. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36. The company has a market capitalization of $723.03 million, a P/E ratio of -45.79 and a beta of 1.48. Redwood Trust, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $8.30.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.65%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is currently -533.33%.

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 Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer 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.