Apollon Wealth Management LLC Increases Stock Position in Redwood Trust, Inc. $RWT

Apollon Wealth Management LLC boosted its position in Redwood Trust, Inc. (NYSE:RWT) by 4.9% during the second quarter, Holdings Channel.com reports. The fund owned 85,950 shares of the real estate investment trust’s stock after purchasing an additional 4,053 shares during the quarter. Apollon Wealth Management LLC’s holdings in Redwood Trust were worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Redwood Trust in the 1st quarter worth about $37,000. AlphaQuest LLC increased its position in Redwood Trust by 165.5% during the 1st quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 5,354 shares in the last quarter. Carrera Capital Advisors purchased a new position in Redwood Trust in the first quarter valued at approximately $65,000. XTX Topco Ltd acquired a new position in Redwood Trust during the first quarter valued at approximately $65,000. Finally, Pinnacle Associates Ltd. acquired a new position in Redwood Trust during the first quarter valued at approximately $68,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RWT shares. BTIG Research reissued a “buy” rating and issued a $8.50 price objective on shares of Redwood Trust in a research report on Friday, September 26th. Keefe, Bruyette & Woods lowered their price target on Redwood Trust from $6.50 to $5.75 and set a “market perform” rating for the company in a report on Tuesday, August 5th. JMP Securities cut their price objective on Redwood Trust from $7.50 to $7.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, October 8th. Finally, UBS Group increased their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.88.

Redwood Trust Stock Performance

NYSE:RWT opened at $5.49 on Friday. The firm has a 50-day moving average of $5.94 and a two-hundred day moving average of $5.81. The company has a debt-to-equity ratio of 20.00, a current ratio of 40.39 and a quick ratio of 40.39. The stock has a market cap of $709.42 million, a P/E ratio of -8.58 and a beta of 1.43. Redwood Trust, Inc. has a 1-year low of $4.68 and a 1-year high of $7.90.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. Redwood Trust had a positive return on equity of 8.70% and a negative net margin of 6.93%. On average, research analysts expect that Redwood Trust, Inc. will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 13.1%. The ex-dividend date was Tuesday, September 23rd. Redwood Trust’s dividend payout ratio is -112.50%.

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.