Bank of New York Mellon Corp Raises Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Bank of New York Mellon Corp increased its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 9.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,003,627 shares of the real estate investment trust’s stock after purchasing an additional 89,335 shares during the quarter. Bank of New York Mellon Corp’s holdings in Redwood Trust were worth $6,554,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RWT. Brown Brothers Harriman & Co. purchased a new stake in Redwood Trust in the 3rd quarter valued at about $39,000. Sovran Advisors LLC acquired a new position in Redwood Trust during the 4th quarter valued at approximately $63,000. KBC Group NV increased its stake in Redwood Trust by 86.7% during the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 4,788 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Redwood Trust during the 4th quarter valued at approximately $86,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Redwood Trust in the 3rd quarter valued at $101,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Stock Up 3.5 %

Shares of Redwood Trust stock opened at $6.39 on Monday. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The company has a 50 day moving average of $6.44 and a 200 day moving average of $6.99. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09. The company has a market capitalization of $846.14 million, a P/E ratio of 19.35 and a beta of 1.63.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share 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%. As a group, research analysts forecast that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be given a $0.18 dividend. The ex-dividend date is Monday, March 24th. This represents a $0.72 dividend on an annualized basis and a yield of 11.28%. Redwood Trust’s dividend payout ratio (DPR) is 218.18%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, JMP Securities restated a “market outperform” rating and set a $8.00 price objective on shares of Redwood Trust in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Redwood Trust presently has an average rating of “Moderate Buy” and an average target price of $7.75.

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.