White Pine Investment CO Has $4.94 Million Position in Redwood Trust, Inc. (RWT)

Share on StockTwits

White Pine Investment CO trimmed its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,035 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. Redwood Trust comprises 2.5% of White Pine Investment CO’s holdings, making the stock its 15th largest position. White Pine Investment CO owned approximately 0.32% of Redwood Trust worth $4,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of RWT. United Services Automobile Association grew its holdings in Redwood Trust by 58.5% during the third quarter. United Services Automobile Association now owns 19,487 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 7,195 shares during the period. MetLife Investment Advisors LLC grew its holdings in Redwood Trust by 72.5% during the third quarter. MetLife Investment Advisors LLC now owns 57,814 shares of the real estate investment trust’s stock worth $939,000 after acquiring an additional 24,290 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Redwood Trust in the third quarter valued at approximately $943,000. IndexIQ Advisors LLC grew its holdings in Redwood Trust by 7.9% in the third quarter. IndexIQ Advisors LLC now owns 72,885 shares of the real estate investment trust’s stock valued at $1,184,000 after purchasing an additional 5,328 shares during the period. Finally, Legal & General Group Plc grew its holdings in Redwood Trust by 191.0% in the third quarter. Legal & General Group Plc now owns 215,308 shares of the real estate investment trust’s stock valued at $3,490,000 after purchasing an additional 141,330 shares during the period. 81.55% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on RWT shares. JMP Securities raised Redwood Trust from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a report on Monday, March 4th. Zacks Investment Research lowered Redwood Trust from a “hold” rating to a “sell” rating in a report on Tuesday, February 19th. Credit Suisse Group started coverage on Redwood Trust in a report on Tuesday, February 5th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Nomura started coverage on Redwood Trust in a report on Wednesday, March 27th. They issued a “buy” rating and a $17.50 price objective on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Redwood Trust currently has a consensus rating of “Buy” and a consensus target price of $17.71.

In other news, Director Mariann H. Byerwalter sold 9,778 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $15.81, for a total value of $154,590.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

RWT traded up $0.09 during trading on Tuesday, hitting $16.40. The company’s stock had a trading volume of 354,749 shares, compared to its average volume of 1,066,485. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 5.92. Redwood Trust, Inc. has a twelve month low of $14.29 and a twelve month high of $17.50. The firm has a market cap of $1.58 billion, a P/E ratio of 9.21 and a beta of 0.65.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, February 14th. The real estate investment trust reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Redwood Trust had a return on equity of 13.10% and a net margin of 26.49%. The company had revenue of $35.00 million for the quarter, compared to analyst estimates of $37.63 million. During the same period last year, the company earned $0.35 earnings per share. Redwood Trust’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts forecast that Redwood Trust, Inc. will post 1.49 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 7.32%. Redwood Trust’s dividend payout ratio (DPR) is presently 67.42%.

WARNING: “White Pine Investment CO Has $4.94 Million Position in Redwood Trust, Inc. (RWT)” was originally posted by Zolmax and is owned by of Zolmax. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://zolmax.com/investing/white-pine-investment-co-has-4-94-million-position-in-redwood-trust-inc-rwt/3056138.html.

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 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.

Featured Story: Can individual investors take part in an IPO?

Want to see what other hedge funds are holding RWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redwood Trust, Inc. (NYSE:RWT).

Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Cott  Hits New 1-Year Low at $13.28
Cott Hits New 1-Year Low at $13.28
EPAM Systems Inc  CFO Sells $170,250.00 in Stock
EPAM Systems Inc CFO Sells $170,250.00 in Stock
Benz  Price Down 21.8% This Week
Benz Price Down 21.8% This Week
Ethan Allen Interiors Inc.  Expected to Post Quarterly Sales of $198.60 Million
Ethan Allen Interiors Inc. Expected to Post Quarterly Sales of $198.60 Million
Insider Selling: Sinclair Broadcast Group Inc  Director Sells 13,250 Shares of Stock
Insider Selling: Sinclair Broadcast Group Inc Director Sells 13,250 Shares of Stock
Chesapeake Gold  Reaches New 1-Year Low at $1.50
Chesapeake Gold Reaches New 1-Year Low at $1.50


 
© 2006-2019 Zolmax.