Arete Wealth Advisors LLC Buys 700 Shares of Redwood Trust, Inc. (RWT)
Arete Wealth Advisors LLC raised its stake in Redwood Trust, Inc. (NYSE:RWT) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,771 shares of the real estate investment trust’s stock after purchasing an additional 700 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Redwood Trust were worth $208,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in RWT. Cedar Wealth Management LLC lifted its position in Redwood Trust by 112.5% in the fourth quarter. Cedar Wealth Management LLC now owns 1,700 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 900 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Redwood Trust during the fourth quarter valued at approximately $32,000. Bank of Montreal Can increased its stake in shares of Redwood Trust by 195.1% during the fourth quarter. Bank of Montreal Can now owns 2,526 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,670 shares during the period. Cutler Group LP purchased a new position in shares of Redwood Trust during the fourth quarter valued at approximately $49,000. Finally, Synovus Financial Corp purchased a new position in shares of Redwood Trust during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.
RWT has been the topic of several research analyst reports. Zacks Investment Research raised Redwood Trust from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, December 12th. JMP Securities raised Redwood Trust from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Monday, March 4th. Finally, Credit Suisse Group initiated coverage on Redwood Trust in a research note on Tuesday, February 5th. They set an “outperform” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Redwood Trust has an average rating of “Hold” and an average target price of $17.75.
RWT opened at $15.80 on Thursday. The company has a debt-to-equity ratio of 5.92, a quick ratio of 3.88 and a current ratio of 3.88. Redwood Trust, Inc. has a 52-week low of $14.29 and a 52-week high of $17.50. The company has a market cap of $1.52 billion, a PE ratio of 8.88 and a beta of 0.64.
Redwood Trust (NYSE:RWT) last posted its earnings results on Thursday, February 14th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $37.63 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that Redwood Trust, Inc. will post 1.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 7.59%. Redwood Trust’s dividend payout ratio (DPR) is presently 67.42%.
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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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