Redwood Trust, Inc. (NYSE:RWT) Position Trimmed by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,808,713 shares of the real estate investment trust’s stock after selling 23,850 shares during the period. Clearbridge Investments LLC owned about 1.58% of Redwood Trust worth $13,403,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC lifted its position in shares of Redwood Trust by 6.3% in the 4th quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,488 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Redwood Trust by 2.4% in the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock valued at $540,000 after acquiring an additional 1,715 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Redwood Trust by 8.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 1,847 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Redwood Trust by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock valued at $4,577,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Redwood Trust by 45.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 2,498 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Stock Performance

NYSE:RWT traded up $0.08 during mid-day trading on Friday, reaching $6.28. 980,049 shares of the company’s stock were exchanged, compared to its average volume of 1,032,593. The business’s fifty day simple moving average is $6.14 and its two-hundred day simple moving average is $6.58. The company has a debt-to-equity ratio of 10.66, a quick ratio of 9.09 and a current ratio of 9.09. Redwood Trust, Inc. has a one year low of $5.45 and a one year high of $8.30. The firm has a market capitalization of $829.90 million, a PE ratio of 89.86 and a beta of 1.50.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 10.19%. Redwood Trust’s dividend payout ratio is currently 914.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RWT shares. UBS Group cut their target price on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Wells Fargo & Company dropped their price target on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 21st. Keefe, Bruyette & Woods dropped their price target on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research note on Wednesday, April 10th. Piper Sandler dropped their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.66.

Redwood Trust Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.