Renaissance Technologies LLC increased its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 32.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 714,400 shares of the real estate investment trust’s stock after purchasing an additional 175,100 shares during the period. Renaissance Technologies LLC owned approximately 0.74% of Redwood Trust worth $11,809,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in RWT. Bank of Montreal Can lifted its holdings in Redwood Trust by 77.1% during the 1st quarter. Bank of Montreal Can now owns 4,473 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 1,947 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Redwood Trust by 19.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 778 shares during the last quarter. Rhumbline Advisers lifted its holdings in Redwood Trust by 15.8% during the 1st quarter. Rhumbline Advisers now owns 280,130 shares of the real estate investment trust’s stock worth $4,524,000 after purchasing an additional 38,175 shares during the last quarter. Comerica Bank raised its holdings in Redwood Trust by 18.3% in the 1st quarter. Comerica Bank now owns 100,605 shares of the real estate investment trust’s stock valued at $1,622,000 after acquiring an additional 15,529 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in Redwood Trust by 20.8% in the 1st quarter. Texas Permanent School Fund now owns 65,597 shares of the real estate investment trust’s stock valued at $1,059,000 after acquiring an additional 11,306 shares in the last quarter. 81.44% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. Nomura lifted their price objective on Redwood Trust from $17.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Zacks Investment Research raised Redwood Trust from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Redwood Trust presently has an average rating of “Buy” and a consensus target price of $18.30.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $32.00 million during the quarter, compared to analysts’ expectations of $42.20 million. Redwood Trust had a return on equity of 10.71% and a net margin of 21.26%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities analysts anticipate that Redwood Trust, Inc. will post 1.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 7.24%. Redwood Trust’s dividend payout ratio is presently 67.42%.
About Redwood Trust
Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, as well as issued by third parties and other credit risk-related investments; and invests directly in residential mortgage loans.
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