Van ECK Associates Corp Has $4.62 Million Holdings in Redwood Trust, Inc. $RWT

Van ECK Associates Corp lessened its position in Redwood Trust, Inc. (NYSE:RWT) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 975,636 shares of the real estate investment trust’s stock after selling 120,612 shares during the quarter. Van ECK Associates Corp’s holdings in Redwood Trust were worth $4,625,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RWT. UBS Group AG raised its stake in Redwood Trust by 521.1% during the 4th quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock valued at $21,430,000 after purchasing an additional 3,251,302 shares during the period. Wellington Management Group LLP boosted its position in shares of Redwood Trust by 10.2% in the third quarter. Wellington Management Group LLP now owns 15,020,483 shares of the real estate investment trust’s stock worth $86,969,000 after buying an additional 1,395,675 shares during the period. Invesco Ltd. grew its holdings in shares of Redwood Trust by 25.4% during the fourth quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust’s stock valued at $14,107,000 after buying an additional 516,630 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Redwood Trust during the second quarter valued at $2,032,000. Finally, Jane Street Group LLC acquired a new position in Redwood Trust during the first quarter valued at $2,018,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RWT. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, June 24th. JonesTrading dropped their target price on Redwood Trust from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research restated a “buy” rating and set a $6.00 price target on shares of Redwood Trust in a report on Tuesday, July 28th. Finally, Zacks Research downgraded shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.94.

Redwood Trust Trading Up 1.7%

NYSE RWT opened at $4.50 on Thursday. The company has a current ratio of 67.49, a quick ratio of 67.49 and a debt-to-equity ratio of 31.69. Redwood Trust, Inc. has a 1-year low of $4.19 and a 1-year high of $6.97. The firm’s fifty day simple moving average is $4.77 and its 200-day simple moving average is $5.32. The company has a market capitalization of $564.62 million, a PE ratio of -112.35 and a beta of 1.37.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%.The firm had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $89.45 million. As a group, sell-side analysts anticipate that Redwood Trust, Inc. will post 1.03 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 16.0%. Redwood Trust’s dividend payout ratio (DPR) is -1,800.00%.

Redwood Trust Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.