M&T Bank Corp Has $174,000 Stake in Redwood Trust, Inc. (NYSE:RWT)

M&T Bank Corp reduced its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,488 shares of the real estate investment trust’s stock after selling 1,687 shares during the quarter. M&T Bank Corp’s holdings in Redwood Trust were worth $174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Redwood Trust in the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC grew its position in 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 worth $40,000 after acquiring an additional 2,043 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Redwood Trust in the second quarter worth approximately $69,000. Algert Global LLC acquired a new position in shares of Redwood Trust during the 2nd quarter worth $86,000. Finally, Creative Planning bought a new position in shares of Redwood Trust during the 3rd quarter valued at $91,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Trading Down 0.9 %

Shares of Redwood Trust stock opened at $6.64 on Friday. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.15. The company’s fifty day simple moving average is $7.23 and its 200-day simple moving average is $7.16. The company has a market cap of $878.25 million, a price-to-earnings ratio of 12.07 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.18 per share. This is an increase from Redwood Trust’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, December 23rd. This represents a $0.72 annualized dividend and a dividend yield of 10.84%. Redwood Trust’s payout ratio is presently 130.91%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RWT. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of Redwood Trust in a report on Monday, December 9th. Raymond James increased their price objective on Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Wells Fargo & Company boosted their target price on Redwood Trust from $7.50 to $8.50 and gave the stock 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 report on Monday, November 11th. Finally, JMP Securities boosted their price objective on shares of Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Redwood Trust has an average rating of “Moderate Buy” and an average price target of $8.03.

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.