Weitz Investment Management buys $96.4 Million stake in Redwood Trust (RWT)

Redwood Trust (RWT) : Weitz Investment Management scooped up 1,009,134 additional shares in Redwood Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 7,239,004 shares of Redwood Trust which is valued at $96.4 Million.Redwood Trust makes up approximately 3.45% of Weitz Investment Management’s portfolio.

Other Hedge Funds, Including , Fort Washington Investment Advisors Inc Oh reduced its stake in RWT by selling 3,700 shares or 18.71% in the most recent quarter. The Hedge Fund company now holds 16,075 shares of RWT which is valued at $213,958.Nationwide Fund Advisors reduced its stake in RWT by selling 3,329 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 204,726 shares of RWT which is valued at $2.7 Million. Redwood Trust makes up approx 0.01% of Nationwide Fund Advisors’s portfolio. Capital Fund Management S.a. added RWT to its portfolio by purchasing 43,800 company shares during the most recent quarter which is valued at $578,598. Redwood Trust makes up approx 0.01% of Capital Fund Management S.a.’s portfolio.

Redwood Trust opened for trading at $14 and hit $14.1 on the upside on Wednesday, eventually ending the session at $14.05, with a gain of 0.57% or 0.08 points. The heightened volatility saw the trading volume jump to 5,13,922 shares. Company has a market cap of $1,081 M.

On the company’s financial health, Redwood Trust reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.31. The company had revenue of $38.00 million for the quarter, compared to analysts expectations of $40.43 million. The company’s revenue was down -5.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Investors should note that on May 16, 2016, Redwood Trust announced a cash dividend of $0.2800. The company’s management has announced Jun 14, 2016 as the ex-dividend date and fixed the record date on Jun 16, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Redwood Trust. Nomura Upgraded Redwood Trust on May 18, 2016 to ” Buy”, Price Target of the shares are set at $16.Shares were Reiterated by Deutsche Bank on Mar 14, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $20 .Shares were Reiterated by Maxim Group on Feb 29, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $20 .

Redwood Trust Inc. (Redwood) is a real estate investment trust (REIT). The company focuses on investing in mortgage and other real estate-related assets. The Company is engaged in residential and commercial mortgage banking activities. It invests in real estate-related assets that generate income through the Company’s residential and commercial mortgage banking activities. It operates in three segments: residential mortgage banking residential investments and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for sale securitization or transfer to its investment portfolio. Its residential investments segment includes investments in residential mortgage-backed securities. Its commercial mortgage banking and investments segment consists of commercial mortgage banking operations and its portfolio of commercial real estate loans.

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