Ravens General Manager Ozzie Newsome isn't done making moves.
The Ravens traded wide receiver David Reed to the Indianapolis Colts in exchange for running back Delone Carter Wednesday afternoon.
The Ravens had a surplus at wide receiver and the Colts had the same at running back.
Carter, 26, is entering his third season and was slated to be the Colts' fourth running back behind Vick Ballard, Donald Brown and Ahmad Bradshaw.
Last season, Carter played in 10 games last year and ran the ball 32 times for 122 yards and three touchdowns. A fourth-round pick out of Syracuse in 2011, Carter played for Ravens Offensive Coordinator Jim Caldwell during his rookie season. He started three games that year, ran for 377 yards and scored two touchdowns.
Carter is a stocky, powerful runner at 5-foot-9, 232 pounds who could help the Ravens in short-yardage situations.
The Ravens seemed stocked at running back, but have added experience and depth.
They have Pro Bowler Ray Rice, who could see more action in the passing game, as their starter, and second-year back Bernard Pierce as the backup. Pierce sat out last week's preseason game in Atlanta due to a knee bruise, but practiced this week and appears set to play against Carolina Thursday night.
Carter will compete for a spot with backup running backs Anthony Allen, Bobby Rainey and Damien Berry. Allen was a key special teams player last year, Rainey spent the year on the practice squad and Berry was on injured reserve.
Reed, 26, hadn't stood out in the Ravens' wide receiver battle this preseason, and wasn't getting much action in recent practices. Baltimore's addition of veteran Brandon Stokley further pushed Reed down the depth chart.
Behind Torrey Smith, Jacoby Jones, the Ravens have Stokley, Tandon Doss, Deonte Thompson, LaQuan Williams, Tommy Streeter, Aaron Mellette and Reed competing likely for four or maybe five spots.
The slot receiver and special teams returner struggled with injuries over his three-year Ravens career. He led the NFL in average yards per kickoff return as a rookie in 2010, but as a receiver, the former fifth-round pick notched only five catches for 66 yards. Reed was a good special teams contributor, but the Ravens have seen other young players also excel there this preseason.
Reed was re-signed to a two-year contract this offseason. He was set to make $630,000 in base salary, according to sportrac.com. Carter has two more years left before he hits free agency and would reportedly make $555,000 in base salary this season.