Redwood Trust, Inc. (NYSE:RWT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Redwood Trust, Inc. (NYSE:RWT) by 22.2% in the 4th quarter, Holdings Channel reports. The firm owned 11,369,304 shares of the real estate investment trust’s stock after selling 3,241,960 shares during the quarter. Wellington Management Group LLP owned 0.09% of Redwood Trust worth $74,242,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in shares of Redwood Trust by 11.9% in the fourth quarter. LPL Financial LLC now owns 145,459 shares of the real estate investment trust’s stock valued at $950,000 after buying an additional 15,437 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Redwood Trust in the 4th quarter worth approximately $169,000. Virtu Financial LLC acquired a new stake in Redwood Trust in the fourth quarter valued at approximately $208,000. Boston Partners raised its stake in shares of Redwood Trust by 8.3% during the fourth quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust’s stock valued at $17,561,000 after purchasing an additional 206,698 shares during the period. Finally, Cibc World Markets Corp acquired a new position in shares of Redwood Trust during the fourth quarter worth $80,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Stock Performance

Shares of Redwood Trust stock opened at $5.37 on Friday. The firm has a market cap of $710.97 million, a PE ratio of 16.26 and a beta of 1.15. Redwood Trust, Inc. has a 1 year low of $5.34 and a 1 year high of $8.15. The firm’s 50-day simple moving average is $6.37 and its 200-day simple moving average is $6.85. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36.

Redwood Trust (NYSE:RWT) last released its earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The firm had revenue of $27.60 million for the quarter, compared to the consensus estimate of $26.00 million. Equities analysts forecast that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 13.42%. The ex-dividend date was Monday, March 24th. Redwood Trust’s dividend payout ratio is presently 218.18%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RWT. JPMorgan Chase & Co. lowered their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Tuesday, January 21st. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $8.00 price target on shares of Redwood Trust in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.