Wolverine Asset Management LLC Buys Shares of 489,902 Redwood Trust, Inc. (NYSE:RWT)

Wolverine Asset Management LLC bought a new stake in Redwood Trust, Inc. (NYSE:RWT) in the 4th quarter, HoldingsChannel reports. The fund bought 489,902 shares of the real estate investment trust’s stock, valued at approximately $3,630,000.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Redwood Trust by 157.1% in the third quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock valued at $30,511,000 after acquiring an additional 2,614,898 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Redwood Trust by 15.6% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust’s stock worth $26,932,000 after buying an additional 509,536 shares during the period. Boston Partners acquired a new stake in shares of Redwood Trust during the third quarter worth $12,015,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Redwood Trust by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust’s stock worth $11,913,000 after buying an additional 44,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Redwood Trust by 1,944.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 976,088 shares of the real estate investment trust’s stock worth $7,233,000 after buying an additional 928,337 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RWT has been the subject of a number of research reports. Raymond James decreased their target price on shares of 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. Keefe, Bruyette & Woods cut their price objective on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 21st. UBS Group cut their target price on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, Piper Sandler decreased their price target on shares of Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Redwood Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.64.

Redwood Trust Price Performance

RWT traded down $0.09 during trading on Wednesday, reaching $5.77. The company’s stock had a trading volume of 268,684 shares, compared to its average volume of 1,440,595. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The firm has a fifty day simple moving average of $6.12 and a two-hundred day simple moving average of $6.68. Redwood Trust, Inc. has a 1 year low of $5.45 and a 1 year high of $8.30. The company has a market cap of $759.22 million, a price-to-earnings ratio of -48.08 and a beta of 1.48.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is -533.33%.

About Redwood Trust

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.