Prudential Financial Inc. Has $7.51 Million Position in Redwood Trust, Inc. (RWT)
Prudential Financial Inc. cut its holdings in Redwood Trust, Inc. (NYSE:RWT) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 440,702 shares of the real estate investment trust’s stock after selling 16,390 shares during the period. Prudential Financial Inc. owned 0.57% of Redwood Trust worth $7,509,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Redwood Trust by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock worth $102,414,000 after buying an additional 224,548 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Redwood Trust by 8.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 530,383 shares of the real estate investment trust’s stock worth $8,810,000 after buying an additional 40,825 shares during the period. Farmhouse Investment Management LLC bought a new position in Redwood Trust in the 1st quarter worth approximately $507,000. Nationwide Fund Advisors boosted its holdings in Redwood Trust by 23.2% in the 1st quarter. Nationwide Fund Advisors now owns 249,507 shares of the real estate investment trust’s stock worth $4,144,000 after buying an additional 46,931 shares during the period. Finally, Blair William & Co. IL bought a new position in Redwood Trust in the 1st quarter worth approximately $309,000. 85.82% of the stock is owned by institutional investors.
Several research firms recently commented on RWT. BidaskClub raised shares of Redwood Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, ValuEngine downgraded shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st.
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Redwood Trust, Inc. (RWT) opened at 15.85 on Friday. The company has a 50-day moving average of $16.73 and a 200 day moving average of $16.78. Redwood Trust, Inc. has a 12-month low of $13.29 and a 12-month high of $17.45. The company has a market capitalization of $1.22 billion, a P/E ratio of 9.26 and a beta of 0.88.
Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 EPS 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 business had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $33.59 million. During the same period in the prior year, the company posted $0.48 earnings per share. Equities research analysts forecast that Redwood Trust, Inc. will post $1.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.12 dividend on an annualized basis and a yield of 7.07%. Redwood Trust’s dividend payout ratio is currently 64.00%.
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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