Dynamic Technology Lab Private Ltd Invests $151,000 in Redwood Trust Inc. (RWT)
Dynamic Technology Lab Private Ltd acquired a new position in Redwood Trust Inc. (NYSE:RWT) during the second quarter, Holdings Channel reports. The firm acquired 10,899 shares of the company’s stock, valued at approximately $151,000.
Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in Redwood Trust by 7.1% in the second quarter. Teacher Retirement System of Texas now owns 10,846 shares of the company’s stock valued at $150,000 after buying an additional 716 shares during the period. California Public Employees Retirement System raised its stake in Redwood Trust by 3.1% in the second quarter. California Public Employees Retirement System now owns 250,700 shares of the company’s stock valued at $3,462,000 after buying an additional 7,600 shares during the period. Emerald Acquisition Ltd. bought a new stake in Redwood Trust during the second quarter valued at approximately $115,000. BlackRock Group LTD raised its stake in Redwood Trust by 19.7% in the first quarter. BlackRock Group LTD now owns 60,120 shares of the company’s stock valued at $786,000 after buying an additional 9,913 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in Redwood Trust by 8.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 135,000 shares of the company’s stock valued at $1,864,000 after buying an additional 10,000 shares during the period. Institutional investors own 86.85% of the company’s stock.
Shares of Redwood Trust Inc. (NYSE:RWT) opened at 13.59 on Friday. The stock’s 50 day moving average is $14.11 and its 200-day moving average is $13.75. Redwood Trust Inc. has a 1-year low of $9.26 and a 1-year high of $15.24. The stock has a market cap of $1.05 billion, a PE ratio of 9.91 and a beta of 0.71.
Redwood Trust (NYSE:RWT) last released its earnings results on Monday, August 8th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.10. Redwood Trust had a net margin of 41.54% and a return on equity of 12.09%. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, analysts predict that Redwood Trust Inc. will post $1.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 8.30%. The ex-dividend date was Tuesday, September 13th. Redwood Trust’s dividend payout ratio (DPR) is presently 85.50%.
Several research firms have recently commented on RWT. Zacks Investment Research upgraded Redwood Trust from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday. Maxim Group downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods downgraded shares of Redwood Trust from an “outperform” rating to a “market perform” rating and set a $14.50 target price for the company. in a report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Redwood Trust presently has a consensus rating of “Hold” and a consensus target price of $15.55.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Company operates through three segments: residential mortgage banking, residential investments, and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for subsequent sale, securitization or transfer to its investment portfolio.
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