TIAA CREF Investment Management LLC Has $4.23 Million Position in Redwood Trust, Inc. (RWT)
TIAA CREF Investment Management LLC lowered its position in Redwood Trust, Inc. (NYSE:RWT) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,536 shares of the real estate investment trust’s stock after selling 11,875 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.33% of Redwood Trust worth $4,228,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RWT. SG Americas Securities LLC bought a new stake in Redwood Trust during the first quarter valued at $107,000. Ameritas Investment Partners Inc. acquired a new position in Redwood Trust during the first quarter valued at about $109,000. TFS Capital LLC acquired a new position in Redwood Trust during the first quarter valued at about $185,000. Comerica Bank boosted its position in Redwood Trust by 0.8% in the first quarter. Comerica Bank now owns 11,286 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 95 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in Redwood Trust by 19.5% in the first quarter. Eqis Capital Management Inc. now owns 11,996 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 1,959 shares during the last quarter. Hedge funds and other institutional investors own 85.71% of the company’s stock.
Shares of Redwood Trust, Inc. (NYSE RWT) traded up 0.42% during mid-day trading on Friday, reaching $16.75. 303,312 shares of the company’s stock traded hands. The stock has a market capitalization of $1.29 billion, a PE ratio of 9.79 and a beta of 0.89. The company’s 50-day moving average price is $17.07 and its 200-day moving average price is $16.76. Redwood Trust, Inc. has a 12-month low of $13.22 and a 12-month high of $17.45.
Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.02. Redwood Trust had a net margin of 46.04% and a return on equity of 12.02%. The business had revenue of $60 million for the quarter, compared to analysts’ expectations of $33.59 million. During the same period in the prior year, the company posted $0.48 EPS. Analysts anticipate that Redwood Trust, Inc. will post $1.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.12 annualized dividend and a dividend yield of 6.69%. Redwood Trust’s dividend payout ratio (DPR) is 64.00%.
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A number of equities analysts recently commented on the company. BidaskClub raised Redwood Trust from a “hold” rating to a “buy” rating in a report on Friday, August 4th. ValuEngine lowered Redwood Trust from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, May 9th.
In other news, Director Karen R. Pallotta purchased 3,027 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was acquired at an average price of $16.53 per share, with a total value of $50,036.31. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.33% of the company’s stock.
Redwood Trust Company Profile
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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