Wolverine Asset Management LLC Takes $3.63 Million Position in Redwood Trust, Inc. (NYSE:RWT)

Wolverine Asset Management LLC bought a new stake in Redwood Trust, Inc. (NYSE:RWT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 489,902 shares of the real estate investment trust’s stock, valued at approximately $3,630,000. Wolverine Asset Management LLC owned approximately 0.43% of Redwood Trust as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RWT. International Assets Investment Management LLC increased its position in shares of Redwood Trust by 641.0% during the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 3,205 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Redwood Trust by 45.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 2,498 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Redwood Trust during the third quarter valued at approximately $92,000. Sigma Planning Corp increased its position in shares of Redwood Trust by 30.7% during the third quarter. Sigma Planning Corp now owns 13,838 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 3,254 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Redwood Trust during the third quarter valued at approximately $101,000. Institutional investors own 74.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RWT. Wedbush downgraded Redwood Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $8.00 to $6.50 in a research report on Thursday, April 11th. Raymond James decreased their target price on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. JMP Securities reissued a “market outperform” rating and issued a $8.00 target price on shares of Redwood Trust in a research report on Thursday, April 18th. Wells Fargo & Company decreased their target price on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 21st. Finally, Piper Sandler decreased their target price on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.64.

Redwood Trust Price Performance

RWT stock traded down $0.09 during mid-day trading on Wednesday, hitting $5.77. 268,684 shares of the stock were exchanged, compared to its average volume of 1,440,595. The company has a debt-to-equity ratio of 10.12, a current ratio of 7.36 and a quick ratio of 7.36. The business has a fifty day moving average price of $6.12 and a 200 day moving average price of $6.68. Redwood Trust, Inc. has a 12 month low of $5.45 and a 12 month high of $8.30. The stock has a market capitalization of $759.22 million, a price-to-earnings ratio of -48.08 and a beta of 1.48.

Redwood Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 11.09%. Redwood Trust’s dividend payout ratio is currently -533.33%.

Redwood Trust Company 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.