Creative Planning Acquires New Holdings in Redwood Trust, Inc. (NYSE:RWT)

Creative Planning bought a new position in shares of Redwood Trust, Inc. (NYSE:RWT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,800 shares of the real estate investment trust’s stock, valued at approximately $91,000.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Redwood Trust during the 2nd quarter worth about $242,000. Illinois Municipal Retirement Fund boosted 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 valued at $444,000 after purchasing an additional 2,993 shares during the period. Van ECK Associates Corp grew its holdings in shares of 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 in the last quarter. Wulff Hansen & CO. increased its stake in Redwood Trust by 549.0% during 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 during the period. Finally, Raymond James Trust N.A. lifted its holdings in Redwood Trust by 53.5% during the 2nd quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 6,318 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Stock Down 2.5 %

Shares of NYSE RWT opened at $7.07 on Wednesday. The stock has a market cap of $934.80 million, a PE ratio of 13.19 and a beta of 1.59. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The business has a 50-day moving average price of $7.56 and a 200 day moving average price of $7.02. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 13.75.

Redwood Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 9.62%. This is a boost from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Monday, September 23rd. Redwood Trust’s payout ratio is presently 123.64%.

Wall Street Analyst Weigh In

Several equities analysts have commented on RWT shares. JMP Securities boosted their price target on shares of Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. Piper Sandler boosted their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price target on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Raymond James upped their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Redwood Trust has a consensus rating of “Moderate Buy” and an average target price of $8.19.

Redwood Trust Company 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.