CIBC Asset Management Inc Takes $86,000 Position in Redwood Trust, Inc. (NYSE:RWT)

CIBC Asset Management Inc acquired a new stake in Redwood Trust, Inc. (NYSE:RWT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,216 shares of the real estate investment trust’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Redwood Trust by 6.9% in the third quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust’s stock valued at $112,945,000 after purchasing an additional 941,223 shares during the period. State Street Corp boosted its holdings in Redwood Trust by 2.0% in the third quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust’s stock valued at $40,116,000 after acquiring an additional 102,274 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Redwood Trust by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust’s stock valued at $23,492,000 after acquiring an additional 25,444 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings 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 valued at $8,608,000 after acquiring an additional 207,088 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in 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 last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a report on Friday, February 14th. StockNews.com cut Redwood Trust from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Finally, JPMorgan Chase & Co. reduced their target price on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Redwood Trust has an average rating of “Hold” and an average price target of $7.84.

Redwood Trust Trading Up 0.5 %

Shares of RWT opened at $6.64 on Thursday. The stock’s 50-day moving average is $6.48 and its two-hundred day moving average is $7.06. The stock has a market cap of $879.93 million, a PE ratio of 20.12 and a beta of 1.57. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.15. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36.

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

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 23rd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.84%. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, December 23rd. Redwood Trust’s payout ratio is presently 218.18%.

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.