Royal Bank of Canada Has $692,000 Stock Holdings in Redwood Trust, Inc. $RWT

Royal Bank of Canada trimmed its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 55.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 123,330 shares of the real estate investment trust’s stock after selling 156,142 shares during the period. Royal Bank of Canada owned approximately 0.10% of Redwood Trust worth $692,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC lifted its stake in Redwood Trust by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 3,572 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Redwood Trust by 331.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,082 shares during the period. Bank of Marin acquired a new position in shares of Redwood Trust in the 4th quarter worth approximately $58,000. Abel Hall LLC acquired a new position in shares of Redwood Trust in the 4th quarter worth approximately $58,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Redwood Trust by 136.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,823 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 6,255 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Stock Performance

RWT opened at $4.80 on Monday. Redwood Trust, Inc. has a 1-year low of $4.19 and a 1-year high of $6.97. The stock has a market capitalization of $602.94 million, a PE ratio of -119.97 and a beta of 1.38. The company has a current ratio of 67.49, a quick ratio of 67.49 and a debt-to-equity ratio of 31.69. The firm has a 50-day moving average price of $4.85 and a two-hundred day moving average price of $5.39.

Redwood Trust (NYSE:RWT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Redwood Trust had a net margin of 0.42% and a return on equity of 16.02%. The company had revenue of $56.01 million for the quarter, compared to analyst estimates of $89.45 million. As a group, equities analysts anticipate that Redwood Trust, Inc. will post 1.03 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 15.0%. Redwood Trust’s payout ratio is presently -1,800.00%.

Analysts Set New Price Targets

RWT has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Redwood Trust from $6.50 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company dropped their price objective on shares of Redwood Trust from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Piper Sandler cut their target price on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.94.

Redwood Trust Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.