State Board of Administration of Florida Retirement System Has $1,291,000 Stake in Redwood Trust, Inc. (RWT)
State Board of Administration of Florida Retirement System held its stake in shares of Redwood Trust, Inc. (NYSE:RWT) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,741 shares of the real estate investment trust’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned 0.10% of Redwood Trust worth $1,291,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Redwood Trust by 3.8% during 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 purchasing an additional 224,548 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Redwood Trust by 8.3% during 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 purchasing an additional 40,825 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Redwood Trust by 11.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 83,059 shares of the real estate investment trust’s stock worth $1,416,000 after purchasing an additional 8,816 shares during the last quarter. Farmhouse Investment Management LLC acquired a new position in shares of Redwood Trust during the 1st quarter worth $507,000. Finally, Nationwide Fund Advisors increased its stake in shares of Redwood Trust by 23.2% during the 1st quarter. Nationwide Fund Advisors now owns 249,507 shares of the real estate investment trust’s stock worth $4,144,000 after purchasing an additional 46,931 shares during the last quarter. Institutional investors own 84.65% of the company’s stock.
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RWT has been the topic of a number of research analyst reports. ValuEngine lowered shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of Redwood Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, BidaskClub lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.
Redwood Trust, Inc. (RWT) opened at 15.94 on Tuesday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.32 and a beta of 0.88. The company has a 50-day moving average of $16.70 and a 200-day moving average of $16.78. Redwood Trust, Inc. has a 1-year low of $13.48 and a 1-year high of $17.45.
Redwood Trust (NYSE:RWT) last issued its 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). The firm had revenue of $60.00 million for the quarter, compared to analyst estimates of $33.59 million. Redwood Trust had a return on equity of 12.02% and a net margin of 46.04%. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, equities analysts predict that Redwood Trust, Inc. will post $1.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued 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 7.03%. Redwood Trust’s payout ratio is 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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