Redwood Trust, Inc. (NYSE:RWT) General Counsel Andrew P. Stone sold 15,000 shares of Redwood Trust stock in a transaction on Friday, December 20th. The shares were sold at an average price of $16.62, for a total transaction of $249,300.00. Following the completion of the sale, the general counsel now directly owns 99,176 shares of the company’s stock, valued at approximately $1,648,305.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Redwood Trust had a return on equity of 10.37% and a net margin of 19.44%. The firm had revenue of $34.00 million for the quarter, compared to the consensus estimate of $44.50 million. During the same period in the prior year, the company posted $0.39 earnings per share. On average, analysts forecast that Redwood Trust, Inc. will post 1.5 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend is Friday, December 13th. Redwood Trust’s dividend payout ratio is 67.42%.
A number of hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new stake in shares of Redwood Trust in the second quarter valued at about $7,006,000. Point72 Asset Management L.P. acquired a new stake in Redwood Trust in the 3rd quarter valued at approximately $6,466,000. Vanguard Group Inc. increased its position in Redwood Trust by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,787,841 shares of the real estate investment trust’s stock worth $161,793,000 after buying an additional 282,176 shares during the period. Boston Partners increased its position in Redwood Trust by 17.2% in the 2nd quarter. Boston Partners now owns 1,400,215 shares of the real estate investment trust’s stock worth $23,146,000 after buying an additional 205,420 shares during the period. Finally, State Street Corp lifted its holdings in shares of Redwood Trust by 6.7% during the third quarter. State Street Corp now owns 3,118,627 shares of the real estate investment trust’s stock worth $51,177,000 after buying an additional 196,773 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.
Several equities analysts have commented on the stock. raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. lowered Redwood Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Redwood Trust presently has an average rating of “Buy” and an average price target of $17.75.
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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