Van ECK Associates Corp Has $4.49 Million Stake in Redwood Trust, Inc. (RWT)
Van ECK Associates Corp lifted its position in Redwood Trust, Inc. (NYSE:RWT) by 10.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 275,541 shares of the real estate investment trust’s stock after purchasing an additional 26,351 shares during the quarter. Van ECK Associates Corp owned 0.36% of Redwood Trust worth $4,489,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of Redwood Trust by 11.9% in 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. TIAA FSB bought a new stake in Redwood Trust during the 2nd quarter worth about $3,346,000. Seizert Capital Partners LLC grew its holdings in Redwood Trust by 3.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 1,496,235 shares of the real estate investment trust’s stock worth $24,374,000 after acquiring an additional 45,651 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Redwood Trust by 44.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,219 shares of the real estate investment trust’s stock worth $515,000 after acquiring an additional 9,270 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Redwood Trust by 4.1% during the 2nd quarter. LSV Asset Management now owns 247,100 shares of the real estate investment trust’s stock worth $4,210,000 after acquiring an additional 9,700 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Redwood Trust, Inc. (RWT) traded up $0.05 during trading hours on Wednesday, reaching $14.92. 480,100 shares of the company’s stock were exchanged, compared to its average volume of 343,046. Redwood Trust, Inc. has a 12-month low of $14.29 and a 12-month high of $17.45. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.91. The company has a market cap of $1,158.26, a price-to-earnings ratio of 10.81 and a beta of 0.92.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Redwood Trust had a return on equity of 9.87% and a net margin of 41.62%. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $36.86 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. analysts expect that Redwood Trust, Inc. will post 1.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date is Thursday, December 14th. Redwood Trust’s dividend payout ratio is currently 70.89%.
A number of equities research analysts have commented on RWT shares. ValuEngine lowered shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Redwood Trust from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research lowered shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Deutsche Bank decreased their price objective on shares of Redwood Trust from $18.50 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th.
About Redwood Trust
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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