PVG Asset Management Corp Buys Shares of 124,930 Redwood Trust, Inc. $RWT

PVG Asset Management Corp purchased a new position in Redwood Trust, Inc. (NYSE:RWT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 124,930 shares of the real estate investment trust’s stock, valued at approximately $592,000. PVG Asset Management Corp owned about 0.10% of Redwood Trust at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RWT. Empowered Funds LLC purchased a new stake in shares of Redwood Trust during the 1st quarter valued at $255,000. Optiver Holding B.V. increased its holdings in shares of Redwood Trust by 2,034.5% in the first quarter. Optiver Holding B.V. now owns 10,779 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 10,274 shares during the period. Bank of America Corp DE increased its holdings in Redwood Trust by 66.4% in the 1st quarter. Bank of America Corp DE now owns 395,286 shares of the real estate investment trust’s stock worth $2,218,000 after buying an additional 157,795 shares during the period. Amundi increased its stake in shares of Redwood Trust by 35.3% in the first quarter. Amundi now owns 18,584 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 4,847 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Redwood Trust by 22.7% in the first quarter. Quantinno Capital Management LP now owns 373,932 shares of the real estate investment trust’s stock worth $2,098,000 after buying an additional 69,173 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RWT has been the subject of several recent research reports. Citizens Jmp reduced their price target on Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. BTIG Research reiterated a “buy” rating and issued a $6.00 target price on shares of Redwood Trust in a research note on Tuesday, July 28th. Zacks Research downgraded shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Piper Sandler cut their price objective on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Finally, JonesTrading decreased 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 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 given a Sell rating to the company. According to MarketBeat, Redwood Trust presently has an average rating of “Hold” and an average price target of $6.00.

Redwood Trust Price Performance

Shares of Redwood Trust stock opened at $4.62 on Tuesday. The stock has a market capitalization of $577.89 million, a P/E ratio of -115.35 and a beta of 1.38. The business has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $5.49. Redwood Trust, Inc. has a 12 month low of $4.19 and a 12 month high of $6.97. The company has a debt-to-equity ratio of 29.41, a current ratio of 59.63 and a quick ratio of 59.63.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Redwood Trust had a return on equity of 15.73% and a net margin of 0.56%.The firm had revenue of $78.50 million for the quarter, compared to analyst estimates of $89.45 million. As a group, analysts predict that Redwood Trust, Inc. will post 1.03 EPS for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 15.6%. Redwood Trust’s dividend payout ratio is presently -1,800.00%.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.