Peregrine Capital Management LLC Increases Stock Position in Redwood Trust, Inc. (NYSE:RWT)

Peregrine Capital Management LLC increased its holdings in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 910,365 shares of the real estate investment trust's stock after buying an additional 76,508 shares during the period. Peregrine Capital Management LLC owned 0.68% of Redwood Trust worth $5,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its position in shares of Redwood Trust by 150.9% in the fourth quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust's stock valued at $13,031,000 after acquiring an additional 1,200,050 shares during the period. Balyasny Asset Management L.P. lifted its position in Redwood Trust by 19.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,994,294 shares of the real estate investment trust's stock valued at $13,023,000 after purchasing an additional 321,612 shares during the last quarter. Boston Partners raised its holdings in Redwood Trust by 8.3% during the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock valued at $17,561,000 after buying an additional 206,698 shares during the last quarter. Northern Trust Corp boosted its position in Redwood Trust by 14.4% during the 4th quarter. Northern Trust Corp now owns 1,569,301 shares of the real estate investment trust's stock valued at $10,248,000 after buying an additional 197,719 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Redwood Trust by 10.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,253 shares of the real estate investment trust's stock valued at $11,272,000 after buying an additional 169,729 shares during the period. 74.34% of the stock is owned by institutional investors.

Redwood Trust Stock Down 2.1%

Shares of Redwood Trust stock traded down $0.13 during trading on Thursday, hitting $6.01. The company's stock had a trading volume of 539,297 shares, compared to its average volume of 992,941. Redwood Trust, Inc. has a 52 week low of $4.68 and a 52 week high of $8.15. The company has a market capitalization of $800.05 million, a PE ratio of 27.32 and a beta of 1.30. The company has a fifty day simple moving average of $5.77 and a two-hundred day simple moving average of $6.08. The company has a debt-to-equity ratio of 16.32, a quick ratio of 39.35 and a current ratio of 39.35.

Redwood Trust (NYSE:RWT - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. The business had revenue of $73.80 million for the quarter, compared to analysts' expectations of $26.55 million. Equities research analysts predict that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.98%. The ex-dividend date was Monday, June 23rd. Redwood Trust's dividend payout ratio (DPR) is 327.27%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RWT. Keefe, Bruyette & Woods cut their target price on Redwood Trust from $7.75 to $7.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. UBS Group increased their price objective on Redwood Trust from $6.50 to $7.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen raised Redwood Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jones Trading restated a "buy" rating and set a $7.00 target price on shares of Redwood Trust in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $7.44.

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.