Wolverine Asset Management LLC Takes Position in Redwood Trust, Inc. (NYSE:RWT)

Wolverine Asset Management LLC purchased a new position in shares of Redwood Trust, Inc. (NYSE:RWT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 489,902 shares of the real estate investment trust's stock, valued at approximately $3,630,000. Wolverine Asset Management LLC owned approximately 0.43% of Redwood Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of Redwood Trust by 641.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 3,205 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Redwood Trust by 45.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 2,498 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Redwood Trust in the 3rd quarter valued at approximately $92,000. Sigma Planning Corp raised its position in shares of Redwood Trust by 30.7% in the 3rd quarter. Sigma Planning Corp now owns 13,838 shares of the real estate investment trust's stock valued at $99,000 after purchasing an additional 3,254 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Redwood Trust in the 3rd quarter valued at approximately $101,000. 74.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RWT. JMP Securities reiterated a "market outperform" rating and issued a $8.00 price target on shares of Redwood Trust in a report on Thursday, April 18th. Raymond James lowered their price target on Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating for the company in a report on Friday, January 19th. Wedbush downgraded Redwood Trust from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $8.00 to $6.50 in a report on Thursday, April 11th. UBS Group lowered their price target on Redwood Trust from $9.00 to $8.50 and set a "buy" rating for the company in a report on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods lowered their price target on Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a report on Wednesday, April 10th. Four 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.64.

Redwood Trust Stock Performance

RWT traded down $0.10 during trading on Wednesday, reaching $5.76. 587,478 shares of the company were exchanged, compared to its average volume of 1,444,747. The stock has a market cap of $757.90 million, a P/E ratio of -48.00 and a beta of 1.48. The firm has a 50 day moving average of $6.10 and a 200 day moving average of $6.67. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 10.12. Redwood Trust, Inc. has a 52 week low of $5.45 and a 52 week high of $8.30.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 11.11%. Redwood Trust's payout ratio is -533.33%.

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.