Citadel Advisors LLC bought a new stake in shares of Redwood Trust, Inc. (NYSE:RWT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 129,637 shares of the real estate investment trust’s stock, valued at approximately $2,112,000. Citadel Advisors LLC owned about 0.17% of Redwood Trust as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in Redwood Trust by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 7,003 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 113 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Redwood Trust in the third quarter worth approximately $215,000. Advisory Services Network LLC grew its stake in Redwood Trust by 3.7% in the second quarter. Advisory Services Network LLC now owns 14,154 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 510 shares in the last quarter. Legal & General Group Plc grew its stake in Redwood Trust by 48.4% in the second quarter. Legal & General Group Plc now owns 16,897 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 5,510 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Redwood Trust in the third quarter worth approximately $283,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Redwood Trust, Inc. (RWT) traded up $0.06 during midday trading on Tuesday, reaching $15.13. The company’s stock had a trading volume of 387,200 shares, compared to its average volume of 343,946. The company has a debt-to-equity ratio of 2.91, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market cap of $1,162.12, a PE ratio of 10.84 and a beta of 0.91. Redwood Trust, Inc. has a 1-year low of $14.29 and a 1-year high of $17.45.
Redwood Trust (NYSE:RWT) last announced its earnings results on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04). The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $36.86 million. Redwood Trust had a net margin of 41.62% and a return on equity of 9.87%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. analysts forecast that Redwood Trust, Inc. will post 1.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.12 annualized dividend and a yield of 7.40%. Redwood Trust’s dividend payout ratio (DPR) is presently 70.89%.
Several brokerages have issued reports on RWT. BidaskClub raised Redwood Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research cut Redwood Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. ValuEngine cut Redwood Trust from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Deutsche Bank dropped their target price on Redwood Trust from $18.50 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th.
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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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