Counterpoint Mutual Funds LLC Acquires Shares of 156,116 Redwood Trust, Inc. $RWT

Counterpoint Mutual Funds LLC bought a new stake in shares of Redwood Trust, Inc. (NYSE:RWT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 156,116 shares of the real estate investment trust’s stock, valued at approximately $876,000. Counterpoint Mutual Funds LLC owned approximately 0.12% of Redwood Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Advisors LLC boosted its holdings in Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 3,572 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,082 shares in the last quarter. Westbourne Investments Inc. purchased a new stake in Redwood Trust during the 4th quarter worth approximately $55,000. Bank of Marin purchased a new stake in Redwood Trust during the 4th quarter worth approximately $58,000. Finally, Abel Hall LLC acquired a new position in shares of Redwood Trust in the 4th quarter valued at approximately $58,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RWT has been the subject of several research analyst reports. Piper Sandler reduced their target price on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Thursday. JonesTrading restated a “buy” rating and issued a $6.25 price target on shares of Redwood Trust in a research note on Thursday, April 30th. Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research reduced their price objective on shares of Redwood Trust from $8.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Finally, Zacks Research lowered shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Redwood Trust presently has an average rating of “Hold” and an average price target of $6.39.

Redwood Trust Trading Up 0.1%

Shares of NYSE RWT opened at $4.48 on Friday. The company has a quick ratio of 59.63, a current ratio of 59.63 and a debt-to-equity ratio of 28.42. The stock’s 50 day moving average price is $5.23 and its two-hundred day moving average price is $5.59. Redwood Trust, Inc. has a 52-week low of $4.43 and a 52-week high of $6.97. The stock has a market capitalization of $561.49 million, a P/E ratio of -5.75 and a beta of 1.37.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.72 annualized dividend and a yield of 16.1%. Redwood Trust’s dividend payout ratio (DPR) is -92.31%.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.