Northern Trust Corp Sells 37,059 Shares of Redwood Trust, Inc. $RWT

Northern Trust Corp lowered its position in Redwood Trust, Inc. (NYSE:RWT) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,532,242 shares of the real estate investment trust’s stock after selling 37,059 shares during the period. Northern Trust Corp’s holdings in Redwood Trust were worth $9,301,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RWT. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Redwood Trust by 3.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 1,767 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Redwood Trust by 1.5% in the first quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 2,326 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Redwood Trust by 33.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 388,768 shares of the real estate investment trust’s stock valued at $2,539,000 after purchasing an additional 97,205 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Redwood Trust by 2.9% in the first quarter. Principal Financial Group Inc. now owns 659,909 shares of the real estate investment trust’s stock valued at $4,006,000 after purchasing an additional 18,499 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in shares of Redwood Trust by 9.2% in the first quarter. Peregrine Capital Management LLC now owns 910,365 shares of the real estate investment trust’s stock valued at $5,526,000 after purchasing an additional 76,508 shares in the last quarter. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Stock Performance

NYSE:RWT opened at $6.37 on Friday. The company has a debt-to-equity ratio of 20.00, a current ratio of 40.39 and a quick ratio of 40.39. The business has a fifty day simple moving average of $5.97 and a two-hundred day simple moving average of $5.91. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15. The company has a market capitalization of $822.49 million, a P/E ratio of -9.95 and a beta of 1.37.

Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of ($38.10) million during the quarter, compared to analysts’ expectations of $31.00 million. Redwood Trust had a positive return on equity of 8.70% and a negative net margin of 6.93%. On average, analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date was Monday, June 23rd. Redwood Trust’s payout ratio is currently -112.50%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 2nd. JMP Securities decreased their price target on Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating for the company in a research report on Thursday, July 31st. UBS Group increased their price target on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their price target on Redwood Trust from $6.50 to $5.75 and set a “market perform” rating for the company in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

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.