Peregrine Capital Management LLC Sells 30,541 Shares of Redwood Trust, Inc. (NYSE:RWT)

Peregrine Capital Management LLC lessened its position in shares of Redwood Trust, Inc. (NYSE:RWT) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 833,857 shares of the real estate investment trust’s stock after selling 30,541 shares during the period. Peregrine Capital Management LLC’s holdings in Redwood Trust were worth $5,445,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in Redwood Trust during the 3rd quarter worth approximately $39,000. Sovran Advisors LLC acquired a new position in Redwood Trust during the 4th quarter valued at approximately $63,000. KBC Group NV increased its stake in Redwood Trust by 86.7% during the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 4,788 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Redwood Trust during the 4th quarter valued at approximately $86,000. Finally, Creative Planning acquired a new position in Redwood Trust during the 3rd quarter valued at approximately $91,000. Institutional investors own 74.34% of the company’s stock.

Analysts Set New Price Targets

RWT has been the topic of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of Redwood Trust from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.84.

Redwood Trust Stock Down 0.9 %

NYSE:RWT opened at $6.33 on Wednesday. The firm has a market capitalization of $838.19 million, a P/E ratio of 19.17 and a beta of 1.57. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. The company’s fifty day moving average price is $6.55 and its 200-day moving average price is $7.08. Redwood Trust, Inc. has a 1-year low of $5.45 and a 1-year high of $8.15.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. As a group, equities research analysts anticipate that Redwood Trust, Inc. will post 0.78 EPS for the current year.

Redwood Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 23rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 11.38%. The ex-dividend date was Monday, December 23rd. This is a positive change from Redwood Trust’s previous quarterly dividend of $0.17. Redwood Trust’s dividend payout ratio (DPR) is currently 218.19%.

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.