MetLife Investment Advisors LLC grew its holdings in Redwood Trust, Inc. (NYSE:RWT) by 14.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 42,187 shares of the real estate investment trust’s stock after acquiring an additional 5,262 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Redwood Trust were worth $681,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Redwood Trust in the first quarter valued at approximately $4,323,000. Hilton Capital Management LLC grew its holdings in Redwood Trust by 4.8% during the 1st quarter. Hilton Capital Management LLC now owns 1,298,562 shares of the real estate investment trust’s stock worth $20,972,000 after acquiring an additional 59,976 shares during the period. Sapience Investments LLC grew its holdings in Redwood Trust by 4.9% during the 1st quarter. Sapience Investments LLC now owns 745,370 shares of the real estate investment trust’s stock worth $12,038,000 after acquiring an additional 34,950 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Redwood Trust during the 1st quarter worth $4,441,000. Finally, Yorktown Management & Research Co Inc grew its holdings in Redwood Trust by 133.3% during the 1st quarter. Yorktown Management & Research Co Inc now owns 140,000 shares of the real estate investment trust’s stock worth $2,261,000 after acquiring an additional 80,000 shares during the period. Institutional investors and hedge funds own 94.98% of the company’s stock.
A number of analysts have commented on RWT shares. Zacks Investment Research raised shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Wednesday, June 12th. Nomura reduced their price target on shares of Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.83.
Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.02). Redwood Trust had a return on equity of 10.86% and a net margin of 24.71%. The firm had revenue of $32.00 million for the quarter, compared to analyst estimates of $44.20 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts predict that Redwood Trust, Inc. will post 1.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 7.22%. Redwood Trust’s dividend payout ratio (DPR) is currently 67.42%.
Redwood Trust Profile
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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