Redwood Trust (NYSE:RWT) Insider Sasha Macomber Acquires 4,895 Shares

Redwood Trust, Inc. (NYSE:RWT) insider Sasha Macomber bought 4,895 shares of the business’s stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $4.08 per share, for a total transaction of $19,971.60. Following the transaction, the insider owned 95,298 shares of the company’s stock, valued at $388,815.84. This trade represents a 5.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Redwood Trust Trading Up 2.5%

NYSE:RWT traded up $0.10 during trading hours on Monday, reaching $4.04. 8,258,999 shares of the stock were exchanged, compared to its average volume of 2,490,048. Redwood Trust, Inc. has a twelve month low of $3.22 and a twelve month high of $6.97. The business has a 50-day moving average of $4.61 and a two-hundred day moving average of $5.14. The company has a market capitalization of $507.46 million, a price-to-earnings ratio of -100.97 and a beta of 1.37. The company has a quick ratio of 67.49, a current ratio of 67.49 and a debt-to-equity ratio of 31.69.

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

Redwood Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 17.8%. The ex-dividend date is Wednesday, September 23rd. Redwood Trust’s dividend payout ratio (DPR) is -1,800.00%.

Analyst Upgrades and Downgrades

RWT has been the topic of a number of recent research reports. UBS Group cut their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Friday, August 21st. Zacks Research upgraded shares of Redwood Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 15th. Keefe, Bruyette & Woods cut their target price on shares of Redwood Trust from $5.50 to $4.75 and set an “outperform” rating on the stock in a research note on Monday, September 14th. JonesTrading reduced their target price on shares of Redwood Trust from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Redwood Trust presently has an average rating of “Hold” and a consensus price target of $5.84.

Hedge Funds Weigh In On Redwood Trust

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in Redwood Trust by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 714,220 shares of the real estate investment trust’s stock worth $3,385,000 after buying an additional 2,627 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Redwood Trust in the 2nd quarter valued at about $2,032,000. Quantinno Capital Management LP increased its holdings in shares of Redwood Trust by 22.7% in the 1st quarter. Quantinno Capital Management LP now owns 373,932 shares of the real estate investment trust’s stock valued at $2,098,000 after acquiring an additional 69,173 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Redwood Trust during the 2nd quarter worth about $1,349,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Redwood Trust by 7,932.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,059 shares of the real estate investment trust’s stock worth $1,256,000 after acquiring an additional 261,759 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

Redwood Trust, Inc is a real estate investment trust that focuses on residential real estate credit. The company invests in, finances and manages residential mortgage assets, including jumbo and other non-agency mortgage loans, mortgage-backed securities and related credit investments. Its activities are primarily focused on the U.S. housing market.

Redwood operates through businesses that support the origination, financing and securitization of residential mortgage credit. Its platform has historically included Sequoia, which acquires and securitizes residential loans, as well as CoreVest, which provides financing to residential real estate investors and developers.