Karen R. Pallotta Buys 3,027 Shares of Redwood Trust, Inc. (RWT) Stock
Redwood Trust, Inc. (NYSE:RWT) Director Karen R. Pallotta bought 3,027 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was purchased at an average cost of $16.53 per share, with a total value of $50,036.31. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Redwood Trust, Inc. (NYSE:RWT) traded up 0.60% on Tuesday, reaching $16.68. 178,266 shares of the company traded hands. The firm has a 50-day moving average of $16.77 and a 200-day moving average of $16.01. The company has a market capitalization of $1.29 billion, a PE ratio of 9.48 and a beta of 0.71. Redwood Trust, Inc. has a 52-week low of $13.20 and a 52-week high of $17.38.
Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. Redwood Trust had a return on equity of 15.35% and a net margin of 48.35%. The business had revenue of $62 million during the quarter, compared to analyst estimates of $34.89 million. During the same quarter last year, the company posted $0.28 EPS. On average, equities research analysts forecast that Redwood Trust, Inc. will post $1.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.71%. Redwood Trust’s dividend payout ratio (DPR) is 67.07%.
Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in Redwood Trust by 0.8% in the first quarter. Comerica Bank now owns 11,286 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 95 shares during the period. First Republic Investment Management Inc. raised its position in Redwood Trust by 2.2% in the fourth quarter. First Republic Investment Management Inc. now owns 15,878 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 336 shares during the period. AQR Capital Management LLC raised its position in Redwood Trust by 0.4% in the first quarter. AQR Capital Management LLC now owns 129,379 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 573 shares during the period. Montag A & Associates Inc. raised its position in Redwood Trust by 1.6% in the first quarter. Montag A & Associates Inc. now owns 77,550 shares of the real estate investment trust’s stock worth $1,288,000 after buying an additional 1,200 shares during the period. Finally, Rhumbline Advisers raised its position in Redwood Trust by 1.4% in the third quarter. Rhumbline Advisers now owns 104,373 shares of the real estate investment trust’s stock worth $1,478,000 after buying an additional 1,475 shares during the period. Institutional investors and hedge funds own 83.73% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Redwood Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th.
Redwood Trust Company Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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