Peregrine Capital Management LLC Has $4.16 Million Holdings in Redwood Trust, Inc. $RWT

Peregrine Capital Management LLC lessened its position in Redwood Trust, Inc. (NYSE:RWT) by 21.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 742,037 shares of the real estate investment trust’s stock after selling 202,364 shares during the period. Peregrine Capital Management LLC’s holdings in Redwood Trust were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RWT. Clearstead Advisors LLC lifted its position in shares of Redwood Trust by 192.5% during the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 3,572 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Redwood Trust by 331.8% in the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 6,082 shares during the period. Westbourne Investments Inc. bought a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $55,000. Bank of Marin acquired a new stake in shares of Redwood Trust in the fourth quarter worth $58,000. Finally, Abel Hall LLC bought a new position in Redwood Trust during the fourth quarter worth $58,000. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Stock Down 4.0%

Shares of RWT opened at $4.48 on Friday. The company has a market capitalization of $561.49 million, a P/E ratio of -5.75 and a beta of 1.37. Redwood Trust, Inc. has a one year low of $4.43 and a one year high of $6.97. The business’s 50 day simple moving average is $5.26 and its 200-day simple moving average is $5.60. The company has a debt-to-equity ratio of 28.42, a current ratio of 59.63 and a quick ratio of 59.63.

Redwood Trust Announces Dividend

The firm also recently announced 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. This represents a $0.72 annualized dividend and a dividend yield of 16.1%. The ex-dividend date was Tuesday, June 23rd. Redwood Trust’s dividend payout ratio is presently -92.31%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RWT. JonesTrading restated a “buy” rating and issued a $6.25 price target on shares of Redwood Trust in a research report on Thursday, April 30th. BTIG Research cut their price target on Redwood Trust from $8.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, June 24th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research cut Redwood Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.