Redwood Trust, Inc. (RWT) Position Trimmed by MetLife Investment Advisors LLC
MetLife Investment Advisors LLC decreased its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 36.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,925 shares of the real estate investment trust’s stock after selling 20,889 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Redwood Trust were worth $556,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in RWT. BlackRock Inc. increased its holdings in Redwood Trust by 2.0% during the fourth quarter. BlackRock Inc. now owns 14,606,132 shares of the real estate investment trust’s stock worth $220,115,000 after buying an additional 285,733 shares during the last quarter. Vanguard Group Inc increased its holdings in Redwood Trust by 19.7% during the third quarter. Vanguard Group Inc now owns 7,796,662 shares of the real estate investment trust’s stock worth $126,618,000 after buying an additional 1,284,601 shares during the last quarter. Vanguard Group Inc. increased its holdings in Redwood Trust by 19.7% during the third quarter. Vanguard Group Inc. now owns 7,796,662 shares of the real estate investment trust’s stock worth $126,618,000 after buying an additional 1,284,601 shares during the last quarter. Shoals Capital Management LP acquired a new position in Redwood Trust during the fourth quarter worth $18,461,000. Finally, Northern Trust Corp increased its holdings in Redwood Trust by 2.1% during the fourth quarter. Northern Trust Corp now owns 1,077,432 shares of the real estate investment trust’s stock worth $16,237,000 after buying an additional 22,069 shares during the last quarter. 81.55% of the stock is currently owned by institutional investors and hedge funds.
In other Redwood Trust news, Director Mariann H. Byerwalter sold 9,778 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.81, for a total transaction of $154,590.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.84% of the stock is currently owned by insiders.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Thursday, February 14th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $37.63 million. Redwood Trust had a net margin of 26.49% and a return on equity of 13.10%. Redwood Trust’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, analysts anticipate that Redwood Trust, Inc. will post 1.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 7.48%. The ex-dividend date was Thursday, March 14th. Redwood Trust’s payout ratio is 67.42%.
A number of equities research analysts have recently issued reports on the stock. Nomura assumed coverage on shares of Redwood Trust in a research report on Wednesday, March 27th. They issued a “buy” rating and a $17.50 target price for the company. JMP Securities raised shares of Redwood Trust from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research report on Monday, March 4th. Zacks Investment Research cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. Finally, Credit Suisse Group assumed coverage on shares of Redwood Trust in a research report on Tuesday, February 5th. They issued an “outperform” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $17.71.
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Redwood Trust Profile
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.
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