Illinois Municipal Retirement Fund Makes New $495,000 Investment in Redwood Trust, Inc. (NYSE:RWT)

Illinois Municipal Retirement Fund acquired a new position in shares of Redwood Trust, Inc. (NYSE:RWT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 66,775 shares of the real estate investment trust’s stock, valued at approximately $495,000. Illinois Municipal Retirement Fund owned 0.06% of Redwood Trust at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System acquired a new stake in Redwood Trust during the 4th quarter worth approximately $440,000. Ceredex Value Advisors LLC acquired a new stake in Redwood Trust during the 4th quarter worth approximately $4,502,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Redwood Trust by 1,944.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 976,088 shares of the real estate investment trust’s stock worth $7,233,000 after acquiring an additional 928,337 shares during the period. International Assets Investment Management LLC lifted its position in Redwood Trust by 641.0% during the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 3,205 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Redwood Trust by 2.4% during the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock worth $540,000 after acquiring an additional 1,715 shares during the period. 74.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James reduced their price target on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a report on Friday, January 19th. Wells Fargo & Company reduced their price target on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $8.00 price target on shares of Redwood Trust in a report on Thursday, April 18th. Wedbush cut Redwood Trust from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $6.50 in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods reduced their price target on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating for the company in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.66.

Redwood Trust Stock Down 2.8 %

NYSE RWT opened at $5.53 on Wednesday. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.30. The business has a 50 day moving average price of $6.02 and a 200 day moving average price of $6.62. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 11.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s payout ratio is currently -533.33%.

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.