Apollon Wealth Management LLC Has $603,000 Stock Holdings in Redwood Trust, Inc. (NYSE:RWT)

Apollon Wealth Management LLC lifted its stake in shares of Redwood Trust, Inc. (NYSE:RWT) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,972 shares of the real estate investment trust’s stock after purchasing an additional 5,259 shares during the quarter. Apollon Wealth Management LLC’s holdings in Redwood Trust were worth $603,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Redwood Trust by 19.5% during the first quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock worth $98,763,000 after buying an additional 2,530,937 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in shares of Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock worth $5,883,000 after acquiring an additional 297,100 shares in the last quarter. Van ECK Associates Corp increased its stake in Redwood Trust by 21.7% in the second quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after acquiring an additional 174,317 shares during the last quarter. Wulff Hansen & CO. raised its position in Redwood Trust by 549.0% during the second quarter. Wulff Hansen & CO. now owns 128,463 shares of the real estate investment trust’s stock valued at $834,000 after purchasing an additional 108,669 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in Redwood Trust during the third quarter worth $722,000. Institutional investors own 74.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RWT has been the topic of several recent analyst reports. Wedbush lifted their price target on Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. JMP Securities raised their price target on shares of Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research note on Friday, October 4th. Raymond James lifted their price target on shares of Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.19.

Redwood Trust Trading Up 0.3 %

Shares of NYSE RWT opened at $7.06 on Friday. The firm has a 50 day moving average price of $7.54 and a two-hundred day moving average price of $7.04. The stock has a market cap of $933.83 million, a P/E ratio of 12.84 and a beta of 1.59. Redwood Trust, Inc. has a 52-week low of $5.45 and a 52-week high of $8.15. The company has a debt-to-equity ratio of 14.55, a quick ratio of 44.36 and a current ratio of 44.36.

Redwood Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 9.63%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, September 23rd. Redwood Trust’s dividend payout ratio is presently 123.64%.

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.