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

Peregrine Capital Management LLC boosted its holdings in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) by 9.2% during the 1st quarter, according to its most recent disclosure 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 approximately 0.68% of Redwood Trust worth $5,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Zacks Investment Management acquired a new position in shares of Redwood Trust during the fourth quarter valued at about $74,000. Cibc World Markets Corp bought a new stake in Redwood Trust in the fourth quarter valued at about $80,000. Tower Research Capital LLC TRC raised its holdings in Redwood Trust by 239.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,566 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 8,863 shares during the period. Cetera Investment Advisers bought a new position in Redwood Trust in the fourth quarter valued at approximately $95,000. Finally, Westbourne Investments Inc. acquired a new position in shares of Redwood Trust during the fourth quarter worth about $111,000. Institutional investors and hedge funds own 74.34% of the company's stock.

Analyst Upgrades and Downgrades

RWT has been the topic of several recent analyst reports. Jones Trading reaffirmed a "buy" rating and set a $7.00 price target on shares of Redwood Trust in a research report on Friday, May 2nd. UBS Group upped their target price on Redwood Trust from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their price target on Redwood Trust from $5.50 to $6.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wall Street Zen raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on Redwood Trust from $7.75 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Five equities research 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, the company has an average rating of "Moderate Buy" and an average price target of $7.44.

Redwood Trust Stock Performance

Shares of Redwood Trust stock traded down $0.13 during trading on Friday, hitting $6.01. 539,359 shares of the company's stock traded hands, compared to its average volume of 953,095. The business has a 50-day simple moving average of $5.77 and a 200-day simple moving average of $6.08. The stock has a market capitalization of $800.05 million, a P/E ratio of 27.32 and a beta of 1.30. The company has a debt-to-equity ratio of 16.32, a current ratio of 39.35 and a quick ratio of 39.35. Redwood Trust, Inc. has a 1 year low of $4.68 and a 1 year high of $8.15.

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 for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. The firm had revenue of $73.80 million for the quarter, compared to analysts' expectations of $26.55 million. As a group, analysts forecast that Redwood Trust, Inc. will post 0.78 EPS for the current year.

Redwood Trust Announces Dividend

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

Redwood Trust Profile

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.