Redwood Trust (NYSE:RWT) President Acquires $251,579.78 in Stock

Redwood Trust, Inc. (NYSE:RWT) President Dashiell Robinson acquired 63,211 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was bought at an average price of $3.98 per share, for a total transaction of $251,579.78. Following the acquisition, the president owned 395,050 shares of the company’s stock, valued at approximately $1,572,299. This trade represents a 19.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Redwood Trust Trading Up 0.0%

RWT stock traded up $0.00 during trading on Wednesday, hitting $3.91. 3,302,224 shares of the company traded hands, compared to its average volume of 2,365,776. The company has a 50-day moving average of $4.67 and a 200-day moving average of $5.19. The company has a debt-to-equity ratio of 31.69, a quick ratio of 67.49 and a current ratio of 67.49. Redwood Trust, Inc. has a 1 year low of $3.22 and a 1 year high of $6.97. The firm has a market capitalization of $491.26 million, a PE ratio of -97.85 and a beta of 1.37.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%.The business had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $89.45 million. Analysts predict that Redwood Trust, Inc. will post 1.03 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 18.4%. The ex-dividend date of this dividend is Wednesday, September 23rd. Redwood Trust’s payout ratio is presently -1,800.00%.

Analyst Ratings Changes

RWT has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Piper Sandler cut their target price on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. JonesTrading reduced their price target on Redwood Trust from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Keefe, Bruyette & Woods dropped their price objective on Redwood Trust from $5.50 to $4.75 and set an “outperform” rating for the company in a report on Monday. Finally, BTIG Research reiterated a “buy” rating and issued a $6.00 price objective on shares of Redwood Trust in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.84.

Institutional Trading of Redwood Trust

Large investors have recently bought and sold shares of the company. Clearstead Advisors LLC raised its holdings in shares of Redwood Trust by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 3,572 shares during the last quarter. Bank of Marin purchased a new stake in Redwood Trust in the fourth quarter worth approximately $58,000. Optiver Holding B.V. grew its position in Redwood Trust by 2,034.5% in the 1st quarter. Optiver Holding B.V. now owns 10,779 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 10,274 shares during the period. Evanson Financial LLC purchased a new stake in Redwood Trust during the 2nd quarter valued at $66,000. Finally, Quotient Wealth Partners LLC bought a new position in shares of Redwood Trust during the 1st quarter valued at $76,000. 74.34% of the stock is owned by institutional investors.

Redwood Trust Company Profile

Redwood Trust, Inc is a real estate investment trust that focuses on residential real estate credit. The company invests in, finances and manages residential mortgage assets, including jumbo and other non-agency mortgage loans, mortgage-backed securities and related credit investments. Its activities are primarily focused on the U.S. housing market.

Redwood operates through businesses that support the origination, financing and securitization of residential mortgage credit. Its platform has historically included Sequoia, which acquires and securitizes residential loans, as well as CoreVest, which provides financing to residential real estate investors and developers.