Victory Capital Management Inc. increased its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 42.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,115 shares of the real estate investment trust’s stock after purchasing an additional 6,552 shares during the quarter. Victory Capital Management Inc.’s holdings in Redwood Trust were worth $230,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in RWT. Norges Bank acquired a new stake in Redwood Trust in the fourth quarter valued at $12,708,000. Cannell Peter B & Co. Inc. acquired a new stake in Redwood Trust in the fourth quarter valued at $5,767,000. Renaissance Technologies LLC lifted its stake in Redwood Trust by 787.4% in the fourth quarter. Renaissance Technologies LLC now owns 603,000 shares of the real estate investment trust’s stock valued at $5,294,000 after acquiring an additional 535,045 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Redwood Trust in the fourth quarter valued at $3,890,000. Finally, Van ECK Associates Corp lifted its stake in Redwood Trust by 64.9% in the fourth quarter. Van ECK Associates Corp now owns 624,889 shares of the real estate investment trust’s stock valued at $5,487,000 after acquiring an additional 246,029 shares during the last quarter. Institutional investors and hedge funds own 72.30% of the company’s stock.
RWT stock opened at $11.72 on Friday. The company has a current ratio of 6.60, a quick ratio of 6.60 and a debt-to-equity ratio of 6.67. Redwood Trust, Inc. has a 12 month low of $5.93 and a 12 month high of $12.21. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 3.71 and a beta of 0.96. The firm has a 50-day moving average price of $10.86.
Several equities analysts have recently weighed in on the stock. TheStreet raised shares of Redwood Trust from a “d” rating to a “c” rating in a research report on Thursday, April 29th. Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research report on Thursday, May 6th. Credit Suisse Group increased their price objective on shares of Redwood Trust from $10.50 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, March 16th. Finally, Raymond James raised their price target on shares of Redwood Trust from $13.50 to $14.50 and gave the stock a “strong-buy” rating in a research report on Friday, April 30th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.19.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Lending, Business Purpose Lending, and Third-Party Investments. The Residential Lending 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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