Victory Capital Management Inc. trimmed its stake in Redwood Trust, Inc. (NYSE:RWT) by 28.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 595,600 shares of the real estate investment trust’s stock after selling 240,190 shares during the quarter. Victory Capital Management Inc.’s holdings in Redwood Trust were worth $9,619,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cedar Wealth Management LLC lifted its stake in Redwood Trust by 112.5% in the fourth quarter. Cedar Wealth Management LLC now owns 1,700 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 900 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Redwood Trust during the first quarter valued at about $28,000. Legacy Bridge LLC bought a new stake in shares of Redwood Trust during the first quarter valued at about $32,000. Bank of Montreal Can raised its stake in shares of Redwood Trust by 195.1% during the fourth quarter. Bank of Montreal Can now owns 2,526 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Cutler Group LP bought a new stake in shares of Redwood Trust during the fourth quarter valued at about $49,000. Institutional investors own 82.64% of the company’s stock.

Shares of NYSE RWT traded down $0.01 during midday trading on Wednesday, reaching $16.19. 9,387 shares of the company traded hands, compared to its average volume of 960,791. Redwood Trust, Inc. has a 52 week low of $14.29 and a 52 week high of $17.50. The company has a quick ratio of 4.25, a current ratio of 4.25 and a debt-to-equity ratio of 5.30. The stock has a market cap of $1.57 billion, a P/E ratio of 9.08 and a beta of 0.65.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). Redwood Trust had a net margin of 24.71% and a return on equity of 10.86%. The company had revenue of $32.00 million for the quarter, compared to the consensus estimate of $44.20 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Redwood Trust’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Redwood Trust, Inc. will post 1.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.41%. The ex-dividend date is Thursday, June 13th. Redwood Trust’s dividend payout ratio (DPR) is presently 67.42%.

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 shares were sold at an average price of $15.81, for a total value of $154,590.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on RWT shares. JMP Securities upgraded shares of Redwood Trust from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research note on Monday, March 4th. Zacks Investment Research cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. Credit Suisse Group started coverage on shares of Redwood Trust in a research note on Tuesday, February 5th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Nomura started coverage on shares of Redwood Trust in a research note on Wednesday, March 27th. They set a “buy” rating and a $17.50 price objective on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $17.83.

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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 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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Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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