Redwood Trust (NYSE:RWT) President Purchases $251,579.78 in Stock

Redwood Trust, Inc. (NYSE:RWT) President Dashiell Robinson acquired 63,211 shares of Redwood Trust stock in a transaction dated Wednesday, September 16th. The shares were bought at an average price of $3.98 per share, with a total value of $251,579.78. Following the transaction, the president directly owned 395,050 shares in the company, valued at approximately $1,572,299. The trade was a 19.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Redwood Trust Trading Up 0.1%

NYSE RWT opened at $3.94 on Friday. The company has a debt-to-equity ratio of 31.69, a current ratio of 67.49 and a quick ratio of 67.49. The firm’s fifty day moving average price is $4.61 and its 200 day moving average price is $5.15. The company has a market capitalization of $495.53 million, a price-to-earnings ratio of -98.60 and a beta of 1.37. Redwood Trust, Inc. has a 12 month low of $3.22 and a 12 month high of $6.97.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Redwood Trust had a net margin of 0.42% and a return on equity of 16.02%. The firm had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $89.45 million. On average, sell-side analysts expect that Redwood Trust, Inc. will post 1.03 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 18.3%. The ex-dividend date of this dividend is Wednesday, September 23rd. Redwood Trust’s payout ratio is presently -1,800.00%.

Wall Street Analyst Weigh In

Several research firms have commented on RWT. JPMorgan Chase & Co. cut their price target on Redwood Trust from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. JonesTrading lowered their target price on shares of Redwood Trust from $6.25 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods reduced their price target on shares of Redwood Trust from $5.50 to $4.75 and set an “outperform” rating for the company in a research report on Monday, September 14th. BTIG Research reiterated a “buy” rating and set a $6.00 price target on shares of Redwood Trust in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Redwood Trust from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.84.

Institutional Investors Weigh In On Redwood Trust

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Redwood Trust during the 2nd quarter worth $1,349,000. PVG Asset Management Corp purchased a new position in shares of Redwood Trust in the 2nd quarter valued at about $592,000. Bank of America Corp DE lifted its stake in shares of Redwood Trust by 66.4% in the first quarter. Bank of America Corp DE now owns 395,286 shares of the real estate investment trust’s stock valued at $2,218,000 after purchasing an additional 157,795 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Redwood Trust by 7,932.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,059 shares of the real estate investment trust’s stock valued at $1,256,000 after purchasing an additional 261,759 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Redwood Trust during the second quarter worth about $990,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

About Redwood Trust

Redwood Trust, Inc is a real estate investment trust that focuses on residential real estate credit. The company invests in, finances and manages residential mortgage assets, including jumbo and other non-agency mortgage loans, mortgage-backed securities and related credit investments. Its activities are primarily focused on the U.S. housing market.

Redwood operates through businesses that support the origination, financing and securitization of residential mortgage credit. Its platform has historically included Sequoia, which acquires and securitizes residential loans, as well as CoreVest, which provides financing to residential real estate investors and developers.