Redwood Trust, Inc. (NYSE:RWT) Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 12.7% in the second quarter, HoldingsChannel reports. The firm owned 271,088 shares of the real estate investment trust’s stock after acquiring an additional 30,486 shares during the period. Wedbush Securities Inc.’s holdings in Redwood Trust were worth $1,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Redwood Trust by 164.4% in the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock valued at $83,842,000 after acquiring an additional 7,035,524 shares during the last quarter. Vanguard Group Inc. boosted its position in Redwood Trust by 19.5% during the 1st quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock worth $98,763,000 after purchasing an additional 2,530,937 shares during the period. Ceredex Value Advisors LLC increased its holdings in Redwood Trust by 48.8% in the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock valued at $5,883,000 after purchasing an additional 297,100 shares in the last quarter. Van ECK Associates Corp raised its position in Redwood Trust by 21.7% in 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 purchasing an additional 174,317 shares during the period. Finally, Peregrine Capital Management LLC lifted its stake in shares of Redwood Trust by 13.3% during the first quarter. Peregrine Capital Management LLC now owns 1,148,565 shares of the real estate investment trust’s stock worth $7,316,000 after purchasing an additional 134,715 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Analysts Set New Price Targets

RWT has been the subject of a number of recent research reports. Wedbush increased their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. JMP Securities boosted their target price on shares of Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler raised their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.81.

Redwood Trust Trading Down 0.2 %

RWT opened at $7.38 on Tuesday. Redwood Trust, Inc. has a 12-month low of $5.45 and a 12-month high of $8.00. The company has a debt-to-equity ratio of 12.97, a current ratio of 50.47 and a quick ratio of 50.47. The stock has a market capitalization of $975.12 million, a PE ratio of 105.36 and a beta of 1.58. The firm’s fifty day moving average price is $7.15 and its 200 day moving average price is $6.54.

Redwood Trust (NYSE:RWT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same period last year, the firm posted $0.14 EPS. As a group, research analysts expect that Redwood Trust, Inc. will post 0.5 EPS for the current fiscal year.

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.