Cerity Partners LLC Has $88,000 Position in Redwood Trust, Inc. (NYSE:RWT)

Cerity Partners LLC cut its stake in Redwood Trust, Inc. (NYSE:RWT) by 43.6% during the fourth quarter, HoldingsChannel reports. The fund owned 13,514 shares of the real estate investment trust’s stock after selling 10,441 shares during the quarter. Cerity Partners LLC’s holdings in Redwood Trust were worth $88,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Redwood Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust’s stock worth $23,492,000 after purchasing an additional 25,444 shares during the last quarter. Boston Partners boosted its stake in Redwood Trust by 8.3% during the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust’s stock valued at $17,561,000 after purchasing an additional 206,698 shares during the period. Van ECK Associates Corp boosted its position in shares of Redwood Trust by 18.0% in the fourth quarter. Van ECK Associates Corp now owns 1,085,593 shares of the real estate investment trust’s stock valued at $7,089,000 after acquiring an additional 165,281 shares during the period. Bank of New York Mellon Corp grew its position in Redwood Trust by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,003,627 shares of the real estate investment trust’s stock worth $6,554,000 after purchasing an additional 89,335 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Redwood Trust by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 641,410 shares of the real estate investment trust’s stock valued at $4,188,000 after acquiring an additional 18,164 shares during the period. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

Redwood Trust Stock Performance

Redwood Trust stock opened at $6.01 on Friday. The business’s 50-day moving average price is $6.00 and its two-hundred day moving average price is $6.58. The stock has a market cap of $799.23 million, a PE ratio of 18.21 and a beta of 1.15. Redwood Trust, Inc. has a 12-month low of $4.68 and a 12-month high of $8.15. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The company had revenue of $27.60 million for the quarter, compared to the consensus estimate of $26.00 million. As a group, analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 24th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 11.98%. The ex-dividend date was Monday, March 24th. Redwood Trust’s dividend payout ratio (DPR) is presently 218.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Jones Trading reduced their target price on shares of Redwood Trust from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. JMP Securities lowered their price objective on Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Redwood Trust presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Redwood Trust Company 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.