Redwood Trust, Inc. (NYSE:RWT – Get Free Report) Director Greg Kubicek bought 50,000 shares of Redwood Trust stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $3.85 per share, with a total value of $192,500.00. Following the acquisition, the director directly owned 127,185 shares of the company’s stock, valued at approximately $489,662.25. This represents a 64.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Redwood Trust Stock Up 3.5%
Shares of Redwood Trust stock traded up $0.14 during midday trading on Tuesday, hitting $3.96. The company’s stock had a trading volume of 6,907,639 shares, compared to its average volume of 2,336,734. Redwood Trust, Inc. has a 1-year low of $3.22 and a 1-year high of $6.97. The company has a quick ratio of 67.49, a current ratio of 67.49 and a debt-to-equity ratio of 31.69. The firm has a market capitalization of $498.04 million, a P/E ratio of -99.35 and a beta of 1.37. The stock has a 50-day simple moving average of $4.69 and a 200-day simple moving average of $5.20.
Redwood Trust (NYSE:RWT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $56.01 million for the quarter, compared to analyst estimates of $89.45 million. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%. As a group, sell-side analysts expect that Redwood Trust, Inc. will post 1.03 earnings per share for the current year.
Redwood Trust Dividend Announcement
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd increased its holdings in Redwood Trust by 10.8% during the 2nd quarter. WINTON GROUP Ltd now owns 76,700 shares of the real estate investment trust’s stock valued at $364,000 after purchasing an additional 7,500 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Redwood Trust by 33.5% in the second quarter. Engineers Gate Manager LP now owns 45,400 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 11,400 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Redwood Trust during the 2nd quarter worth about $157,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Redwood Trust during the 2nd quarter worth about $990,000. Finally, Two Sigma Securities LLC acquired a new stake in Redwood Trust in the 2nd quarter valued at about $140,000. 74.34% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Citizens Jmp cut their target price on shares of Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. BTIG Research reissued a “buy” rating and set a $6.00 price objective on shares of Redwood Trust in a research report on Tuesday, July 28th. Zacks Research lowered Redwood Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Wells Fargo & Company reduced their price target on Redwood Trust from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, UBS Group dropped their price objective on Redwood Trust from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Friday, August 21st. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.84.
Get Our Latest Stock Report on RWT
Redwood Trust Company Profile
Redwood Trust, Inc is a real estate investment trust that focuses on residential real estate credit. The company invests in, finances and manages residential mortgage assets, including jumbo and other non-agency mortgage loans, mortgage-backed securities and related credit investments. Its activities are primarily focused on the U.S. housing market.
Redwood operates through businesses that support the origination, financing and securitization of residential mortgage credit. Its platform has historically included Sequoia, which acquires and securitizes residential loans, as well as CoreVest, which provides financing to residential real estate investors and developers.
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