Evergreen Capital Management LLC Sells 75,432 Shares of Redwood Trust, Inc. $RWT

Key Points

• Evergreen Capital Management LLC reduced its stake in Redwood Trust by 6.1%, now owning approximately 1.16 million shares valued at around $7 million.
• Several equity analysts have downgraded their price targets for Redwood Trust, with JMP Securities reducing it from $7.50 to $7.00 and UBS lowering it from $7.00 to $6.50.
• Redwood Trust recently reported quarterly earnings, missing estimates with an EPS of $0.18 and announcing a dividend of $0.18 per share, representing an annualized yield of 11.8%.

Evergreen Capital Management LLC reduced its stake in Redwood Trust, Inc. (NYSE:RWT - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,160,047 shares of the real estate investment trust's stock after selling 75,432 shares during the quarter. Evergreen Capital Management LLC owned 0.87% of Redwood Trust worth $7,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in shares of Redwood Trust in the 1st quarter valued at about $37,000. AlphaQuest LLC grew its stake in Redwood Trust by 165.5% in the 1st quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 5,354 shares during the last quarter. Carrera Capital Advisors acquired a new position in Redwood Trust in the 1st quarter valued at about $65,000. XTX Topco Ltd acquired a new position in Redwood Trust in the 1st quarter valued at about $65,000. Finally, Pinnacle Associates Ltd. acquired a new position in Redwood Trust in the 1st quarter valued at about $68,000. 74.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RWT shares. JMP Securities decreased their price target on shares of Redwood Trust from $7.50 to $7.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen lowered shares of Redwood Trust from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 2nd. UBS Group increased their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $6.50 to $5.75 and set a "market perform" rating on the stock in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.25.

Redwood Trust Price Performance

NYSE:RWT traded up $0.08 on Thursday, hitting $6.22. The company had a trading volume of 256,913 shares, compared to its average volume of 1,003,489. The stock has a market capitalization of $803.10 million, a price-to-earnings ratio of -9.71 and a beta of 1.37. The company has a current ratio of 40.39, a quick ratio of 40.39 and a debt-to-equity ratio of 20.00. The firm has a 50 day moving average of $5.95 and a two-hundred day moving average of $5.91. Redwood Trust, Inc. has a 52 week low of $4.68 and a 52 week high of $8.15.

Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of ($38.10) million during the quarter, compared to the consensus estimate of $31.00 million. Redwood Trust had a negative net margin of 6.93% and a positive return on equity of 8.70%. On average, research analysts anticipate that Redwood Trust, Inc. will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date was Monday, June 23rd. Redwood Trust's dividend payout ratio (DPR) is presently -112.50%.

Redwood Trust Company 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.