SeaCrest Wealth Management LLC Reduces Stake in Redwood Trust, Inc. (NYSE:RWT)

SeaCrest Wealth Management LLC lowered its holdings in Redwood Trust, Inc. (NYSE:RWTGet Rating) by 59.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,168 shares of the real estate investment trust’s stock after selling 7,700 shares during the period. SeaCrest Wealth Management LLC’s holdings in Redwood Trust were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Venture Visionary Partners LLC bought a new position in shares of Redwood Trust during the 2nd quarter valued at about $27,000. Steward Partners Investment Advisory LLC increased its position in shares of Redwood Trust by 43.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,386 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 1,927 shares during the last quarter. Journey Advisory Group LLC bought a new position in Redwood Trust during the 2nd quarter worth approximately $91,000. Meeder Asset Management Inc. grew its position in Redwood Trust by 13.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,163 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 1,782 shares during the last quarter. Finally, B. Riley Wealth Management Inc. grew its position in Redwood Trust by 14.9% during the 1st quarter. B. Riley Wealth Management Inc. now owns 11,969 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 1,552 shares during the last quarter. Hedge funds and other institutional investors own 69.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RWT shares. Credit Suisse Group reduced their price target on Redwood Trust to $9.00 in a research report on Thursday, October 13th. Piper Sandler cut their price objective on Redwood Trust from $10.50 to $8.50 and set an “overweight” rating on the stock in a research report on Friday, September 30th. StockNews.com initiated coverage on Redwood Trust in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. Wedbush initiated coverage on Redwood Trust in a research report on Tuesday, October 4th. They issued an “outperform” rating and a $9.00 price objective on the stock. Finally, BTIG Research lowered Redwood Trust to a “neutral” rating in a research report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.86.

Redwood Trust Trading Up 0.1 %

RWT opened at $7.50 on Tuesday. The stock has a market cap of $850.13 million, a PE ratio of -10.56 and a beta of 1.24. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 8.38. The business has a 50 day moving average of $6.68 and a 200-day moving average of $7.80. Redwood Trust, Inc. has a 52 week low of $5.51 and a 52 week high of $14.04.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 23rd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 12.27%. The ex-dividend date was Thursday, September 22nd. Redwood Trust’s payout ratio is -129.58%.

Redwood Trust declared that its Board of Directors has initiated a share buyback plan on Thursday, July 28th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 11.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Redwood Trust

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Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.

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Institutional Ownership by Quarter for Redwood Trust (NYSE:RWT)

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