Two Sigma Investments LP trimmed its position in Redwood Trust, Inc. (NYSE:RWT) by 69.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,405 shares of the real estate investment trust’s stock after selling 84,354 shares during the period. Two Sigma Investments LP’s holdings in Redwood Trust were worth $184,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. NumerixS Investment Technologies Inc raised its stake in Redwood Trust by 38.9% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 700 shares in the last quarter. Mason Street Advisors LLC increased its holdings in shares of Redwood Trust by 3.1% in the 4th quarter. Mason Street Advisors LLC now owns 39,251 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 1,190 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Redwood Trust in the 4th quarter valued at approximately $4,962,000. Advisor Group Inc. raised its position in shares of Redwood Trust by 10.0% during the 4th quarter. Advisor Group Inc. now owns 18,162 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 1,645 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Redwood Trust by 29.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,667 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 2,203 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.
RWT has been the topic of a number of research reports. Raymond James increased their target price on shares of Redwood Trust from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday, June 12th. ValuEngine raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, May 11th. Zacks Investment Research cut shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler upped their target price on Redwood Trust from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Credit Suisse Group boosted their price objective on Redwood Trust from $6.50 to $8.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.38.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 22nd were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend was Friday, June 19th. Redwood Trust’s dividend payout ratio is currently 31.65%.
In other Redwood Trust news, Director Fred Matera purchased 13,000 shares of Redwood Trust stock in a transaction on Friday, May 15th. The stock was bought at an average price of $3.80 per share, for a total transaction of $49,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is owned by insiders.
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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