Concurrent Investment Advisors LLC Raises Position in Redwood Trust, Inc. (NYSE:RWT)

Concurrent Investment Advisors LLC lifted its position in Redwood Trust, Inc. (NYSE:RWT) by 269.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,273 shares of the real estate investment trust’s stock after acquiring an additional 28,655 shares during the period. Concurrent Investment Advisors LLC’s holdings in Redwood Trust were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Redwood Trust in the 2nd quarter valued at approximately $242,000. Illinois Municipal Retirement Fund raised its stake in shares of Redwood Trust by 4.5% in the first quarter. Illinois Municipal Retirement Fund now owns 69,768 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 2,993 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Redwood Trust during the third quarter valued at $722,000. Van ECK Associates Corp boosted its position in shares of Redwood Trust by 21.7% during the second quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after buying an additional 174,317 shares during the last quarter. Finally, Wulff Hansen & CO. increased its holdings in Redwood Trust by 549.0% in the 2nd quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust’s stock worth $834,000 after buying an additional 108,669 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RWT shares. JPMorgan Chase & Co. upped their target price on shares of Redwood Trust from $7.50 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Raymond James raised their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Piper Sandler boosted their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, JMP Securities raised their price target on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.19.

Redwood Trust Trading Up 2.4 %

NYSE:RWT opened at $7.35 on Monday. Redwood Trust, Inc. has a one year low of $5.45 and a one year high of $8.15. The business has a fifty day moving average price of $7.57 and a 200-day moving average price of $7.00. The firm has a market capitalization of $971.82 million, a price-to-earnings ratio of 13.36 and a beta of 1.59. The company has a debt-to-equity ratio of 13.75, a current ratio of 50.47 and a quick ratio of 50.47.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.68 annualized dividend and a dividend yield of 9.25%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s dividend payout ratio (DPR) is 123.64%.

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.