Brooke Carillo Purchases 26,065 Shares of Redwood Trust (NYSE:RWT) Stock

Redwood Trust, Inc. (NYSE:RWT) CFO Brooke Carillo bought 26,065 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $3.85 per share, with a total value of $100,350.25. Following the transaction, the chief financial officer owned 140,481 shares of the company’s stock, valued at $540,851.85. This represents a 22.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Redwood Trust Stock Up 3.5%

RWT stock traded up $0.14 during midday trading on Tuesday, hitting $3.96. The company’s stock had a trading volume of 6,907,639 shares, compared to its average volume of 2,336,734. The company’s fifty day moving average price is $4.69 and its 200 day moving average price is $5.20. The company has a debt-to-equity ratio of 31.69, a current ratio of 67.49 and a quick ratio of 67.49. Redwood Trust, Inc. has a twelve month low of $3.22 and a twelve month high of $6.97. The stock has a market capitalization of $498.04 million, a P/E ratio of -99.35 and a beta of 1.37.

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

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.72 annualized dividend and a yield of 18.2%. Redwood Trust’s dividend payout ratio is -1,800.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RWT shares. JPMorgan Chase & Co. dropped their price objective on Redwood Trust from $6.50 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Zacks Research downgraded shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. UBS Group dropped 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 report on Friday, August 21st. Citizens Jmp cut their price target on shares of Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Finally, JonesTrading decreased their price objective on shares of Redwood Trust from $6.25 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.84.

Institutional Trading of Redwood Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in Redwood Trust in the 2nd quarter valued at about $1,349,000. PVG Asset Management Corp bought a new stake in shares of Redwood Trust during the second quarter worth approximately $592,000. Bank of America Corp DE boosted its holdings in shares of Redwood Trust by 66.4% during the first quarter. Bank of America Corp DE now owns 395,286 shares of the real estate investment trust’s stock worth $2,218,000 after acquiring an additional 157,795 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Redwood Trust by 7,932.1% in the second 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 valued at $1,256,000 after purchasing an additional 261,759 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Redwood Trust in the second quarter valued at approximately $990,000. Institutional investors own 74.34% of the company’s stock.

About Redwood Trust

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.