Capital Investment Advisory Services LLC Takes Position in Redwood Trust, Inc. (NYSE:RWT)

Capital Investment Advisory Services LLC purchased a new position in shares of Redwood Trust, Inc. (NYSE:RWT) during the second quarter, Holdings Channel reports. The fund purchased 23,285 shares of the real estate investment trust’s stock, valued at approximately $397,000.

Several other large investors also recently made changes to their positions in RWT. Vanguard Group Inc. boosted its stake in shares of Redwood Trust by 3.8% in the first quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock worth $102,414,000 after buying an additional 224,548 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Redwood Trust by 4.3% in the first quarter. Renaissance Technologies LLC now owns 1,397,000 shares of the real estate investment trust’s stock worth $23,204,000 after buying an additional 57,800 shares during the period. UBS Group AG boosted its position in shares of Redwood Trust by 33.8% in the first quarter. UBS Group AG now owns 1,062,183 shares of the real estate investment trust’s stock worth $17,643,000 after buying an additional 268,238 shares during the period. Hilton Capital Management LLC boosted its position in shares of Redwood Trust by 9.6% in the first quarter. Hilton Capital Management LLC now owns 1,013,108 shares of the real estate investment trust’s stock worth $16,828,000 after buying an additional 88,657 shares during the period. Finally, Norges Bank acquired a new position in shares of Redwood Trust during the fourth quarter worth $11,939,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Redwood Trust, Inc. (NYSE RWT) opened at 17.05 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of 9.69 and a beta of 0.89. The company has a 50 day moving average of $17.13 and a 200-day moving average of $16.66. Redwood Trust, Inc. has a one year low of $13.22 and a one year high of $17.45.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Redwood Trust had a net margin of 46.04% and a return on equity of 12.10%. The business had revenue of $60 million during the quarter, compared to analysts’ expectations of $33.59 million. During the same quarter in the previous year, the business posted $0.48 EPS. On average, equities research analysts predict that Redwood Trust, Inc. will post $1.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.12 annualized dividend and a yield of 6.57%. Redwood Trust’s payout ratio is 64.00%.

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A number of research analysts recently weighed in on RWT shares. BidaskClub upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine cut shares of Redwood Trust from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of Redwood Trust from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, May 9th.

In other Redwood Trust news, Director Karen R. Pallotta purchased 3,027 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were purchased at an average price of $16.53 per share, for a total transaction of $50,036.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.33% of the company’s stock.

Redwood Trust Company Profile

Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.

Want to see what other hedge funds are holding RWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redwood Trust, Inc. (NYSE:RWT).

Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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