Systematic Financial Management LP Purchases New Holdings in Redwood Trust, Inc. (NYSE:RWT)

Systematic Financial Management LP acquired a new position in Redwood Trust, Inc. (NYSE:RWT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 157,459 shares of the real estate investment trust’s stock, valued at approximately $1,217,000.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Redwood Trust in the second quarter worth $242,000. Clear Harbor Asset Management LLC bought a new position in shares of Redwood Trust during the 3rd quarter worth about $722,000. Van ECK Associates Corp boosted its position in shares of Redwood Trust by 21.7% during the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after acquiring an additional 174,317 shares in the last quarter. Wulff Hansen & CO. increased its stake in Redwood Trust by 549.0% in the second quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust’s stock valued at $834,000 after acquiring an additional 108,669 shares during the period. Finally, Ceredex Value Advisors LLC raised its position in Redwood Trust by 22.8% in the third quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after purchasing an additional 207,088 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company’s stock.

Redwood Trust Price Performance

Redwood Trust stock opened at $7.09 on Friday. The business’s fifty day moving average is $7.35 and its two-hundred day moving average is $7.12. The company has a debt-to-equity ratio of 14.55, a quick ratio of 44.36 and a current ratio of 44.36. The firm has a market cap of $937.79 million, a P/E ratio of 12.89 and a beta of 1.57. Redwood Trust, Inc. has a 52 week low of $5.45 and a 52 week high of $8.15.

Redwood Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.17 per share. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, September 23rd. This represents a $0.68 annualized dividend and a yield of 9.59%. Redwood Trust’s dividend payout ratio is 123.64%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RWT. JMP Securities lifted 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. raised their target price on Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price target on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Raymond James lifted their price objective on Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.16.

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.