Van ECK Associates Corp Has $5.25 Million Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Van ECK Associates Corp grew its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 708,459 shares of the real estate investment trust’s stock after acquiring an additional 45,534 shares during the period. Van ECK Associates Corp owned 0.62% of Redwood Trust worth $5,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RWT. Wellington Management Group LLP increased its stake in shares of Redwood Trust by 157.1% during the third quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock worth $30,511,000 after purchasing an additional 2,614,898 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Redwood Trust by 15.6% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust’s stock worth $26,932,000 after buying an additional 509,536 shares during the period. Boston Partners acquired a new stake in shares of Redwood Trust during the third quarter worth $12,015,000. Charles Schwab Investment Management Inc. boosted its position in shares of Redwood Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust’s stock valued at $11,913,000 after acquiring an additional 44,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Redwood Trust by 1,944.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 976,088 shares of the real estate investment trust’s stock valued at $7,233,000 after acquiring an additional 928,337 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Trading Down 0.3 %

Shares of RWT opened at $6.34 on Friday. The company has a debt-to-equity ratio of 10.08, a quick ratio of 7.36 and a current ratio of 10.79. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.30. The firm has a market cap of $834.22 million, a price-to-earnings ratio of 90.57 and a beta of 1.50. The business’s fifty day moving average is $6.03 and its 200-day moving average is $6.61.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 10.09%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is 914.29%.

Analyst Upgrades and Downgrades

RWT has been the subject of several analyst reports. UBS Group dropped their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Wells Fargo & Company cut their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Wedbush restated a “neutral” rating and set a $6.50 price objective on shares of Redwood Trust in a research note on Wednesday. Piper Sandler dropped their price objective on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Redwood Trust in a report on Thursday, April 18th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.66.

About Redwood Trust

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.