Redwood Trust, Inc. (NYSE:RWT) Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC lowered its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,251,877 shares of the real estate investment trust’s stock after selling 42,770 shares during the period. Evergreen Capital Management LLC’s holdings in Redwood Trust were worth $8,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RWT. Charles Schwab Investment Management Inc. boosted its position in shares of Redwood Trust by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,260 shares of the real estate investment trust’s stock valued at $13,325,000 after acquiring an additional 127,435 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Redwood Trust by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust’s stock valued at $4,577,000 after buying an additional 2,296 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Redwood Trust by 8.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 1,847 shares during the last quarter. Quest Partners LLC purchased a new stake in Redwood Trust in the 4th quarter valued at about $107,000. Finally, TCW Group Inc. boosted its stake in Redwood Trust by 3.2% during the fourth quarter. TCW Group Inc. now owns 82,852 shares of the real estate investment trust’s stock worth $614,000 after buying an additional 2,541 shares during the period. Institutional investors and hedge funds own 74.34% of the company’s stock.

Analyst Ratings Changes

RWT has been the topic of several recent analyst reports. Raymond James upped their price objective on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday. Wedbush upped their price target on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. JMP Securities increased their target price on Redwood Trust from $8.00 to $8.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company lifted their target price on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Redwood Trust currently has an average rating of “Moderate Buy” and an average target price of $8.08.

Redwood Trust Stock Performance

Shares of RWT opened at $7.93 on Monday. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.15. The stock has a market capitalization of $1.05 billion, a PE ratio of 113.29 and a beta of 1.58. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. The stock has a 50-day simple moving average of $7.37 and a 200-day simple moving average of $6.65.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, analysts predict that Redwood Trust, Inc. will post 0.5 earnings per share for the current fiscal year.

Redwood Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 8.58%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, September 23rd. Redwood Trust’s payout ratio is 971.43%.

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.