Farmers & Merchants Investments Inc. Cuts Stake in Redwood Trust, Inc. (RWT)
Farmers & Merchants Investments Inc. lowered its position in Redwood Trust, Inc. (NYSE:RWT) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,503 shares of the real estate investment trust’s stock after selling 2,348 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Redwood Trust were worth $2,799,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of RWT. Russell Investments Group Ltd. acquired a new position in shares of Redwood Trust during the fourth quarter worth about $212,000. First Republic Investment Management Inc. increased its position in shares of Redwood Trust by 2.2% in the fourth quarter. First Republic Investment Management Inc. now owns 15,878 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 336 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Redwood Trust during the third quarter worth about $235,000. Pacad Investment Ltd. increased its position in shares of Redwood Trust by 16,900.0% in the fourth quarter. Pacad Investment Ltd. now owns 17,000 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 16,900 shares during the last quarter. Finally, Aperio Group LLC increased its position in shares of Redwood Trust by 5.6% in the third quarter. Aperio Group LLC now owns 18,525 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 977 shares during the last quarter. 83.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Redwood Trust, Inc. (NYSE:RWT) traded up 0.18% during trading on Tuesday, hitting $16.90. The stock had a trading volume of 298,441 shares. The stock has a market cap of $1.30 billion, a P/E ratio of 10.95 and a beta of 0.71. The stock’s 50 day moving average price is $16.43 and its 200-day moving average price is $15.48. Redwood Trust, Inc. has a one year low of $12.40 and a one year high of $17.05.
Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, February 23rd. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. The firm earned $36 million during the quarter, compared to analysts’ expectations of $39.19 million. Redwood Trust had a net margin of 48.35% and a return on equity of 15.35%. During the same period in the previous year, the firm earned $0.46 EPS. Analysts expect that Redwood Trust, Inc. will post $1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Thursday, March 16th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend was Tuesday, March 14th. Redwood Trust’s payout ratio is 67.07%.
Separately, Zacks Investment Research downgraded Redwood Trust from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.33.
Redwood Trust Company Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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