Apollon Wealth Management LLC Acquires 5,259 Shares of Redwood Trust, Inc. (NYSE:RWT)

Apollon Wealth Management LLC grew its stake in Redwood Trust, Inc. (NYSE:RWT) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,972 shares of the real estate investment trust’s stock after buying an additional 5,259 shares during the quarter. Apollon Wealth Management LLC owned 0.06% of Redwood Trust worth $603,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Redwood Trust by 19.5% in the first quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock valued at $98,763,000 after acquiring an additional 2,530,937 shares during the last quarter. Ceredex Value Advisors LLC increased its position in shares of Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock worth $5,883,000 after purchasing an additional 297,100 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Redwood Trust by 21.7% in the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after buying an additional 174,317 shares during the last quarter. Wulff Hansen & CO. grew its stake in shares of Redwood Trust by 549.0% in the second quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust’s stock valued at $834,000 after buying an additional 108,669 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Redwood Trust in the third quarter valued at $722,000. Institutional investors own 74.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RWT. JMP Securities increased their price target on shares of Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company boosted their price target on Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Redwood Trust from $7.50 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wedbush boosted their target price on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Raymond James raised their price target on Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.19.

Redwood Trust Stock Up 0.3 %

RWT opened at $7.06 on Friday. The stock has a fifty day moving average of $7.54 and a 200-day moving average of $7.04. The company has a market capitalization of $933.83 million, a P/E ratio of 12.84 and a beta of 1.59. Redwood Trust, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $8.15. The company has a debt-to-equity ratio of 14.55, a quick ratio of 44.36 and a current ratio of 44.36.

Redwood Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.17 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 9.63%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. Redwood Trust’s payout ratio is currently 123.64%.

Redwood Trust 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.