Global X Management Co. LLC Has $9.14 Million Position in Redwood Trust, Inc. (RWT)
Global X Management Co. LLC increased its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 536,285 shares of the real estate investment trust’s stock after buying an additional 24,316 shares during the period. Global X Management Co. LLC’s holdings in Redwood Trust were worth $9,138,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Redwood Trust during the fourth quarter valued at $11,939,000. First Trust Advisors LP boosted its position in shares of Redwood Trust by 1,457.8% in the first quarter. First Trust Advisors LP now owns 480,693 shares of the real estate investment trust’s stock valued at $7,984,000 after buying an additional 449,836 shares in the last quarter. IronBridge Capital Management LP boosted its position in shares of Redwood Trust by 105.7% in the first quarter. IronBridge Capital Management LP now owns 718,273 shares of the real estate investment trust’s stock valued at $11,931,000 after buying an additional 369,068 shares in the last quarter. UBS Group AG boosted its position in shares of Redwood Trust by 33.8% in the first quarter. UBS Group AG now owns 1,062,183 shares of the real estate investment trust’s stock valued at $17,643,000 after buying an additional 268,238 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Redwood Trust by 3.8% in the first quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock valued at $102,414,000 after buying an additional 224,548 shares in the last quarter. 85.10% of the stock is owned by hedge funds and other institutional investors.
Redwood Trust, Inc. (RWT) opened at 17.10 on Thursday. The stock’s 50 day moving average price is $17.14 and its 200-day moving average price is $16.72. The firm has a market cap of $1.32 billion, a PE ratio of 9.72 and a beta of 0.89. Redwood Trust, Inc. has a 12-month low of $13.22 and a 12-month high of $17.45.
Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. Redwood Trust had a net margin of 46.04% and a return on equity of 12.02%. The firm had revenue of $60 million for the quarter, compared to analysts’ expectations of $33.59 million. During the same quarter in the previous year, the business earned $0.48 EPS. Equities research analysts anticipate that Redwood Trust, Inc. will post $1.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a yield of 6.55%. Redwood Trust’s payout ratio is 64.00%.
Several equities analysts have weighed in on RWT shares. Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, May 9th. BidaskClub raised Redwood Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, ValuEngine cut Redwood Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd.
In other news, Director Karen R. Pallotta purchased 3,027 shares of the stock in a transaction on Monday, May 22nd. The shares were acquired at an average price of $16.53 per share, for a total transaction of $50,036.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.33% of the company’s stock.
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.
Want to see what other hedge funds are holding RWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redwood Trust, Inc. (NYSE:RWT).
Receive News & Ratings for Redwood Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.