1,536,617 Redwood Trust, Inc. $RWT Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC trimmed its position in Redwood Trust, Inc. (NYSE:RWT) by 91.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,408 shares of the real estate investment trust’s stock after selling 1,536,617 shares during the period. Evergreen Capital Management LLC owned 0.11% of Redwood Trust worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Redwood Trust by 5.1% during the 2nd quarter. State Street Corp now owns 5,216,721 shares of the real estate investment trust’s stock valued at $24,727,000 after buying an additional 254,399 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Redwood Trust by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 714,220 shares of the real estate investment trust’s stock valued at $3,385,000 after acquiring an additional 2,627 shares in the last quarter. Bank of America Corp DE increased its position in shares of Redwood Trust by 66.4% during the first quarter. Bank of America Corp DE now owns 395,286 shares of the real estate investment trust’s stock worth $2,218,000 after purchasing an additional 157,795 shares in the last quarter. Quantinno Capital Management LP raised its stake in Redwood Trust by 22.7% in the 1st quarter. Quantinno Capital Management LP now owns 373,932 shares of the real estate investment trust’s stock valued at $2,098,000 after purchasing an additional 69,173 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Redwood Trust in the 2nd quarter valued at $1,349,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Redwood Trust news, CFO Brooke Carillo bought 26,065 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of $3.85 per share, with a total value of $100,350.25. Following the transaction, the chief financial officer owned 140,481 shares of the company’s stock, valued at approximately $540,851.85. The trade was a 22.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Abate purchased 100,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $3.84 per share, for a total transaction of $384,000.00. Following the completion of the purchase, the chief executive officer directly owned 679,283 shares of the company’s stock, valued at $2,608,446.72. The trade was a 17.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 244,171 shares of company stock valued at $948,402 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

RWT has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a report on Monday, September 21st. JonesTrading dropped their price objective on shares of Redwood Trust from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Piper Sandler cut their price objective on shares of Redwood Trust from $5.25 to $3.75 and set a “neutral” rating for the company in a report on Friday, October 9th. BTIG Research decreased their target price on shares of Redwood Trust from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Finally, UBS Group dropped their price target on Redwood Trust from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Friday, August 21st. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.25.

Redwood Trust Stock Performance

Shares of Redwood Trust stock opened at $3.12 on Friday. The company has a debt-to-equity ratio of 31.69, a current ratio of 67.49 and a quick ratio of 67.49. The stock has a market capitalization of $391.90 million, a price-to-earnings ratio of 3.05 and a beta of 1.45. The business has a 50-day moving average of $3.74 and a 200 day moving average of $5.00. Redwood Trust, Inc. has a 12 month low of $2.88 and a 12 month high of $6.97.

Redwood Trust (NYSE:RWT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $56.01 million for the quarter, compared to the consensus estimate of $89.45 million. Redwood Trust had a net margin of 0.42% and a return on equity of 16.02%. As a group, sell-side analysts forecast that Redwood Trust, Inc. will post 0.96 earnings per share for the current year.

Redwood Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 23.1%. The ex-dividend date of this dividend was Wednesday, September 23rd. Redwood Trust’s payout ratio is -1,800.00%.

Redwood Trust Company Profile

Redwood Trust, Inc is a specialty finance company and real estate investment trust headquartered in Mill Valley, California. Founded in 1994 and traded on the New York Stock Exchange under the symbol RWT, the company focuses on investing in and financing residential real estate credit.

Redwood Trust’s activities include acquiring, originating, securitizing and managing residential mortgage loans and related assets. Its portfolio has historically included jumbo and other non-agency residential mortgages, mortgage-backed securities, mortgage servicing rights and other residential credit investments.