Caprock Group LLC Lowers Holdings in Redwood Trust, Inc. (NYSE:RWT)

Caprock Group LLC trimmed its holdings in Redwood Trust, Inc. (NYSE:RWT) by 52.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,000 shares of the real estate investment trust’s stock after selling 22,791 shares during the quarter. Caprock Group LLC’s holdings in Redwood Trust were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RWT. Vanguard Group Inc. boosted its position in shares of Redwood Trust by 19.5% during the first quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock worth $98,763,000 after acquiring an additional 2,530,937 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in Redwood Trust by 22.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after purchasing an additional 207,088 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Redwood Trust by 21.7% during the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after purchasing an additional 174,317 shares during the last quarter. Rhumbline Advisers grew its position in shares of Redwood Trust by 1.6% during the second quarter. Rhumbline Advisers now owns 390,185 shares of the real estate investment trust’s stock valued at $2,532,000 after purchasing an additional 6,242 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Redwood Trust by 7.9% in the second quarter. Public Sector Pension Investment Board now owns 290,767 shares of the real estate investment trust’s stock worth $1,887,000 after purchasing an additional 21,232 shares during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Stock Performance

Shares of NYSE:RWT opened at $7.20 on Tuesday. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The company has a market capitalization of $952.34 million, a price-to-earnings ratio of 13.09 and a beta of 1.59. The firm’s 50-day moving average is $7.46 and its 200 day moving average is $7.09.

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.17 per share. This is a boost from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.44%. Redwood Trust’s dividend payout ratio is currently 123.64%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JMP Securities lifted their price objective on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Piper Sandler lifted their price objective on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Raymond James upped their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Wedbush lifted their price target on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.19.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.