Peregrine Capital Management LLC Decreases Stake in Redwood Trust, Inc. $RWT

Peregrine Capital Management LLC reduced its holdings in shares of Redwood Trust, Inc. (NYSE:RWT) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 742,037 shares of the real estate investment trust’s stock after selling 202,364 shares during the quarter. Peregrine Capital Management LLC owned 0.59% of Redwood Trust worth $4,163,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its holdings in Redwood Trust by 9.8% in the 1st quarter. Inspire Investing LLC now owns 92,705 shares of the real estate investment trust’s stock worth $520,000 after acquiring an additional 8,290 shares during the period. Janney Montgomery Scott LLC grew its stake in Redwood Trust by 18.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,113 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 2,363 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Redwood Trust during the first quarter worth approximately $310,000. SG Americas Securities LLC grew its holdings in Redwood Trust by 77.8% during the 1st quarter. SG Americas Securities LLC now owns 27,213 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 11,911 shares in the last quarter. Finally, Quotient Wealth Partners LLC acquired a new stake in shares of Redwood Trust in the 1st quarter valued at about $76,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Trading Down 4.0%

NYSE RWT opened at $4.48 on Friday. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42. The company has a market capitalization of $561.49 million, a PE ratio of -5.75 and a beta of 1.37. Redwood Trust, Inc. has a 1-year low of $4.43 and a 1-year high of $6.97. The firm’s fifty day simple moving average is $5.26 and its 200-day simple moving average is $5.60.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 16.1%. Redwood Trust’s dividend payout ratio is currently -92.31%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RWT. JonesTrading reissued a “buy” rating and set a $6.25 price target on shares of Redwood Trust in a research report on Thursday, April 30th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, June 24th. Zacks Research cut shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Piper Sandler dropped their price target on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.39.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.