NFC Investments LLC Buys 271,975 Shares of Redwood Trust, Inc. (NYSE:RWT)

NFC Investments LLC grew its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 127.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 484,975 shares of the real estate investment trust’s stock after acquiring an additional 271,975 shares during the period. Redwood Trust accounts for 1.1% of NFC Investments LLC’s holdings, making the stock its 20th largest position. NFC Investments LLC’s holdings in Redwood Trust were worth $3,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in Redwood Trust in the 3rd quarter valued at about $39,000. GAMMA Investing LLC boosted its stake in shares of Redwood Trust by 65.4% in the third quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 2,043 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in Redwood Trust during the second quarter worth approximately $69,000. Creative Planning bought a new position in Redwood Trust during the 3rd quarter worth $91,000. Finally, Verition Fund Management LLC acquired a new position in shares of Redwood Trust in the 3rd quarter valued at approximately $101,000. Institutional investors own 74.34% of the company’s stock.

Analysts Set New Price Targets

RWT has been the subject of several research reports. Raymond James increased their price objective on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. JMP Securities boosted their price target on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company upped their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a report on Friday, September 20th. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Piper Sandler raised their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.19.

Redwood Trust Stock Down 0.8 %

Redwood Trust stock traded down $0.06 on Tuesday, hitting $7.13. 62,316 shares of the stock traded hands, compared to its average volume of 1,064,930. The business’s fifty day simple moving average is $7.39 and its 200 day simple moving average is $7.11. The firm has a market cap of $943.09 million, a P/E ratio of 13.07 and a beta of 1.57. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.15.

Redwood Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.68 annualized dividend and a yield of 9.54%. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s payout ratio is presently 123.64%.

Redwood Trust Company 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.