New York State Teachers Retirement System Has $887,000 Stock Position in Redwood Trust, Inc. $RWT

New York State Teachers Retirement System reduced its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,104 shares of the real estate investment trust’s stock after selling 2,326 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Redwood Trust worth $887,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Redwood Trust by 270.5% during the second quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 4,503 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Redwood Trust during the first quarter worth $37,000. AlphaQuest LLC increased its holdings in shares of Redwood Trust by 165.5% during the first quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 5,354 shares in the last quarter. Carrera Capital Advisors acquired a new position in shares of Redwood Trust during the first quarter worth $65,000. Finally, XTX Topco Ltd acquired a new position in shares of Redwood Trust during the first quarter worth $65,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Price Performance

RWT stock opened at $5.69 on Thursday. The stock has a market capitalization of $734.62 million, a PE ratio of -8.88 and a beta of 1.43. The company’s 50-day moving average is $5.92 and its 200-day moving average is $5.81. The company has a debt-to-equity ratio of 20.00, a current ratio of 40.39 and a quick ratio of 40.39. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $7.90.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of ($38.10) million for the quarter, compared to the consensus estimate of $31.00 million. Redwood Trust had a positive return on equity of 8.70% and a negative net margin of 6.93%. Equities research analysts expect that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a $0.18 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.72 annualized dividend and a yield of 12.7%. Redwood Trust’s dividend payout ratio (DPR) is -112.50%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, October 8th. JMP Securities lowered their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating for the company in a report on Thursday, July 31st. BTIG Research reissued a “buy” rating and issued a $8.50 price objective on shares of Redwood Trust in a research note on Friday, September 26th. Finally, Wall Street Zen cut shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Redwood Trust has a consensus rating of “Hold” and an average price target of $6.88.

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.