Weitz Investment Management Lowers stake in Redwood Trust (RWT)

Redwood Trust (RWT) : Weitz Investment Management reduced its stake in Redwood Trust by 7.17% during the most recent quarter end. The investment management company now holds a total of 6,720,062 shares of Redwood Trust which is valued at $98,247,306 after selling 518,942 shares in Redwood Trust , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Redwood Trust makes up approximately 3.50% of Weitz Investment Management’s portfolio.

Other Hedge Funds, Including , Doheny Asset Management Ca reduced its stake in RWT by selling 1,500 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 135,617 shares of RWT which is valued at $1,982,721. Redwood Trust makes up approx 0.96% of Doheny Asset Management Ca’s portfolio.Sg Americas Securities reduced its stake in RWT by selling 2,029 shares or 11.13% in the most recent quarter. The Hedge Fund company now holds 16,204 shares of RWT which is valued at $231,717.California State Teachers Retirement System reduced its stake in RWT by selling 4,186 shares or 2.55% in the most recent quarter. The Hedge Fund company now holds 159,962 shares of RWT which is valued at $2,287,457.

Redwood Trust opened for trading at $14.32 and hit $14.43 on the upside on Friday, eventually ending the session at $14.38, with a gain of 0.56% or 0.08 points. The heightened volatility saw the trading volume jump to 2,39,165 shares. Company has a market cap of $1,106 M.

On the company’s financial health, Redwood Trust reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.36.Analysts expectations of $ 36.41.During the same quarter in the previous year, the company posted $0.31 EPS.

Investors should note that on Aug 8, 2016, Redwood Trust announced a cash dividend of $0.2800. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Redwood Trust. Redwood Trust was Downgraded by Maxim Group to ” Hold” on Aug 10, 2016. Redwood Trust was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 19, 2016. Nomura Upgraded Redwood Trust on May 18, 2016 to ” Buy”, Price Target of the shares are set at $16.

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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