EMC Capital Management grew its position in shares of Redwood Trust, Inc. (NYSE:RWT – Free Report) by 74.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,388 shares of the real estate investment trust’s stock after buying an additional 11,280 shares during the quarter. EMC Capital Management’s holdings in Redwood Trust were worth $188,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in Redwood Trust by 195.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,467 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 3,617 shares in the last quarter. Quarry LP boosted its stake in Redwood Trust by 736.7% in the 1st quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 4,943 shares during the period. Tower Research Capital LLC TRC boosted its stake in Redwood Trust by 71.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 2,796 shares during the period. Metropolitan Life Insurance Co NY boosted its stake in shares of Redwood Trust by 29.6% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,649 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Redwood Trust during the 2nd quarter valued at $60,000. Hedge funds and other institutional investors own 69.94% of the company’s stock.
Redwood Trust Stock Up 1.7 %
RWT opened at $6.71 on Tuesday. The company’s 50 day moving average price is $7.09 and its two-hundred day moving average price is $7.21. The company has a debt-to-equity ratio of 9.84, a current ratio of 6.99 and a quick ratio of 6.99. Redwood Trust, Inc. has a fifty-two week low of $5.47 and a fifty-two week high of $8.30.
Redwood Trust Dividend Announcement
Wall Street Analysts Forecast Growth
Several research analysts recently commented on RWT shares. BTIG Research upgraded shares of Redwood Trust from a “neutral” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Tuesday, December 5th. Raymond James reduced their price target on shares of Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating on the stock in a research report on Friday, January 19th. Finally, UBS Group initiated coverage on shares of Redwood Trust in a research report on Wednesday, December 6th. They issued a “buy” rating and a $9.00 price target on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.38.
Redwood Trust 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 Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.
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