Cibc World Markets Corp Purchases New Holdings in Redwood Trust, Inc. (NYSE:RWT)

Cibc World Markets Corp acquired a new position in Redwood Trust, Inc. (NYSE:RWT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,322 shares of the real estate investment trust’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Redwood Trust in the 3rd quarter worth approximately $39,000. Sovran Advisors LLC bought a new stake in Redwood Trust in the fourth quarter worth $63,000. KBC Group NV grew its stake in shares of Redwood Trust by 86.7% in the fourth quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 4,788 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Redwood Trust during the fourth quarter valued at $86,000. Finally, Verition Fund Management LLC purchased a new position in shares of Redwood Trust in the 3rd quarter worth about $101,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 0.2 %

Shares of RWT stock opened at $6.12 on Friday. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. Redwood Trust, Inc. has a 12-month low of $5.46 and a 12-month high of $8.15. The stock has a market capitalization of $810.36 million, a P/E ratio of 18.53 and a beta of 1.63. The firm’s 50 day moving average is $6.43 and its 200 day moving average is $6.92.

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

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.72 annualized dividend and a yield of 11.77%. Redwood Trust’s dividend payout ratio (DPR) is 218.18%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RWT. JMP Securities restated a “market outperform” rating and set a $8.00 price objective on shares of Redwood Trust in a research note on Friday, February 14th. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Redwood Trust has an average rating of “Moderate Buy” and an average target price of $7.75.

About Redwood Trust

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.