Clear Harbor Asset Management LLC Acquires 59,510 Shares of Redwood Trust, Inc. (NYSE:RWT)

Clear Harbor Asset Management LLC raised its holdings in Redwood Trust, Inc. (NYSE:RWT) by 63.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,860 shares of the real estate investment trust’s stock after purchasing an additional 59,510 shares during the quarter. Clear Harbor Asset Management LLC owned 0.12% of Redwood Trust worth $998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RWT. Victory Capital Management Inc. grew its position in Redwood Trust by 7.8% in the second quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 2,450 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Redwood Trust during the 2nd quarter valued at approximately $113,000. Public Sector Pension Investment Board increased its position in Redwood Trust by 7.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 290,767 shares of the real estate investment trust’s stock worth $1,887,000 after purchasing an additional 21,232 shares in the last quarter. Caxton Associates LP bought a new position in Redwood Trust in the 2nd quarter valued at approximately $234,000. Finally, Algert Global LLC bought a new stake in shares of Redwood Trust during the second quarter worth $86,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 1.2 %

RWT opened at $6.43 on Wednesday. The company has a market cap of $851.44 million, a P/E ratio of 11.68 and a beta of 1.57. The company has a fifty day moving average price of $6.80 and a two-hundred day moving average price of $7.18. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.15.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Redwood Trust had a return on equity of 6.01% and a net margin of 9.35%. During the same quarter in the prior year, the company posted $0.09 EPS. Analysts predict that Redwood Trust, Inc. will post 0.57 EPS for the current fiscal year.

Redwood Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were issued a $0.18 dividend. This is a boost from Redwood Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.21%. The ex-dividend date of this dividend was Monday, December 23rd. Redwood Trust’s dividend payout ratio (DPR) is currently 130.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RWT shares. JMP Securities raised their price objective on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Tuesday. Finally, StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.97.

About Redwood Trust

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.