Redwood Trust, Inc. (NYSE:RWT) Short Interest Update

Redwood Trust, Inc. (NYSE:RWT - Get Free Report) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 4,520,000 shares, a decline of 18.1% from the April 30th total of 5,520,000 shares. Based on an average daily trading volume, of 1,470,000 shares, the days-to-cover ratio is presently 3.1 days.

Analysts Set New Price Targets

RWT has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 21st. JMP Securities reissued a "market outperform" rating and issued a $8.00 target price on shares of Redwood Trust in a research note on Thursday, April 18th. Keefe, Bruyette & Woods dropped their target price on Redwood Trust from $7.75 to $7.25 and set an "outperform" rating for the company in a research report on Wednesday, April 10th. UBS Group decreased their price target on Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a report on Tuesday, March 5th. Finally, Piper Sandler dropped their price objective on Redwood Trust from $7.50 to $7.00 and set a "neutral" rating for the company in a report 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.66.

Hedge Funds Weigh In On Redwood Trust

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 3,205 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Redwood Trust by 45.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust's stock worth $57,000 after buying an additional 2,498 shares in the last quarter. MQS Management LLC acquired a new position in shares of Redwood Trust during the 1st quarter worth about $72,000. Ameritas Investment Partners Inc. grew its holdings in shares of Redwood Trust by 26.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust's stock valued at $91,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Redwood Trust in the third quarter valued at about $92,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Redwood Trust Trading Up 1.6 %

Shares of NYSE:RWT traded up $0.10 during mid-day trading on Friday, reaching $6.34. The stock had a trading volume of 1,010,120 shares, compared to its average volume of 1,327,617. The firm has a market cap of $837.83 million, a PE ratio of 90.57 and a beta of 1.50. The firm has a 50 day simple moving average of $6.14 and a two-hundred day simple moving average of $6.57. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 10.66. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.30.

Redwood Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 10.09%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust's dividend payout ratio (DPR) is 914.29%.

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.

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