Peregrine Capital Management LLC Reduces Position in Redwood Trust, Inc. (NYSE:RWT)

Peregrine Capital Management LLC cut its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 833,857 shares of the real estate investment trust’s stock after selling 30,541 shares during the period. Peregrine Capital Management LLC owned approximately 0.63% of Redwood Trust worth $5,445,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RWT. Creative Planning purchased a new position in shares of Redwood Trust during the 3rd quarter worth about $91,000. Clear Harbor Asset Management LLC purchased a new position in shares of Redwood Trust during the 3rd quarter worth about $722,000. Golden State Equity Partners boosted its stake in shares of Redwood Trust by 19.3% during the 3rd quarter. Golden State Equity Partners now owns 70,562 shares of the real estate investment trust’s stock worth $545,000 after purchasing an additional 11,396 shares during the period. Ceredex Value Advisors LLC boosted its stake in shares of Redwood Trust by 22.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after purchasing an additional 207,088 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in Redwood Trust by 269.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 39,273 shares of the real estate investment trust’s stock valued at $304,000 after buying an additional 28,655 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Trading Down 0.9 %

NYSE:RWT opened at $6.33 on Wednesday. Redwood Trust, Inc. has a one year low of $5.45 and a one year high of $8.15. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36. The firm has a market cap of $838.19 million, a P/E ratio of 19.17 and a beta of 1.57. The firm has a 50-day simple moving average of $6.55 and a 200-day simple moving average of $7.08.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. The business had revenue of $27.60 million during the quarter, compared to the consensus estimate of $26.00 million. Equities analysts anticipate that Redwood Trust, Inc. will post 0.78 EPS for the current fiscal year.

Redwood Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 11.38%. The ex-dividend date was Monday, December 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.17. Redwood Trust’s payout ratio is 218.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $8.00 price objective on shares of Redwood Trust in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.84.

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.