Redwood Trust, Inc. (NYSE:RWT) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144,606 shares of the real estate investment trust’s stock after selling 3,959 shares during the period. Peregrine Capital Management LLC owned approximately 0.87% of Redwood Trust worth $7,428,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RWT. Wellington Management Group LLP grew its holdings in Redwood Trust by 164.4% during the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock worth $83,842,000 after acquiring an additional 7,035,524 shares in the last quarter. Vanguard Group Inc. grew its holdings in Redwood Trust by 19.5% during the 1st quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock worth $98,763,000 after acquiring an additional 2,530,937 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Redwood Trust during the 4th quarter worth $13,246,000. Ceredex Value Advisors LLC grew its holdings in Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock worth $5,883,000 after acquiring an additional 297,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Redwood Trust by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,260 shares of the real estate investment trust’s stock worth $13,325,000 after acquiring an additional 127,435 shares in the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RWT has been the subject of several recent analyst reports. JMP Securities raised their price objective on shares of Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price objective on shares of Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Wedbush raised their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler raised their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Redwood Trust has a consensus rating of “Moderate Buy” and a consensus price target of $7.81.

Redwood Trust Stock Performance

NYSE:RWT traded up $0.06 during mid-day trading on Friday, hitting $7.57. The stock had a trading volume of 969,909 shares, compared to its average volume of 1,171,234. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 108.14 and a beta of 1.58. The company has a 50 day simple moving average of $7.02 and a 200-day simple moving average of $6.50. Redwood Trust, Inc. has a 52 week low of $5.45 and a 52 week high of $8.30. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same period in the prior year, the firm posted $0.14 EPS. On average, research analysts expect that Redwood Trust, Inc. will post 0.49 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.64 annualized dividend and a yield of 8.45%. Redwood Trust’s dividend payout ratio is presently 914.29%.

About Redwood Trust

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.