Redwood Trust (RWT)
Provides mortgage-credit liquidity through securitization and business-purpose lending platforms.
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Provides liquidity to U.S. housing-credit segments not well served by government programs. Sequoia and CoreVest acquire or originate loans for sale or securitization, while Aspire acquires residential loans.
Provides liquidity to U.S. housing-credit segments not well served by government programs. Sequoia operates a private-label, non-agency securitization platform; CoreVest provides short- and long-term financing to rental-real-estate investors; Aspire acquires residential loans.
Sequoia Mortgage Banking and CoreVest Mortgage Banking originate or acquire loans and then sell or securitize them. Redwood Investments is a named operating platform, while Legacy Investments is being wound down through asset dispositions or runoff.
The business centers on U.S. housing credit and is internally managed as a REIT for federal income-tax purposes. Its simplified operating model is focused on the Sequoia, Aspire, and CoreVest platforms.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 21, 2026 | UBS | Reiterate | Rating: —Target: $7 | Target: $6.50 |
| Jul 29, 2026 | Wells Fargo | Reiterate | Rating: —Target: — | Target: $6 |
| Jul 9, 2026 | Keefe, Bruyette & Woods | Upgrade | ||
| Jul 2, 2026 | Piper Sandler | Reiterate | Rating: —Target: $6.50 | Target: $5.50 |
| Jun 17, 2026 | BTIG | Reiterate | Rating: —Target: $10.50 | Target: $6 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $672.7M · Total debt $27.47B · Total assets $28.82B · Shareholders' equity $934.0M
- Revenue
- $56.0M
- Operating income
- $353.2M
- Net income
- −$1.1M
HistoryDividendAnnual yield
| Institutions | ≈ 73.56% | 92.40M shares | |
|---|---|---|---|
| 234 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 6.92% | 8.69M shares | |
| 12 holders · as of Sep 21, 2026 | |||
| Other | ≈ 19.52% | 24.52M shares | |
| remainder | |||
125.61M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.15% | 20.28M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 6.95% | 8.74M | as of Jun 30, 2026 |
Bay Pond Partners, L.P.Institution | 5.69% | 7.15M | filed Sep 16, 2026 |
Bay Pond Investors (Bermuda) L.P.Insider | 5.08% | 6.38M | filed Aug 20, 2026 |
Vanguard Capital Management LLCInstitution | 4.44% | 5.58M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 21, 2026 | Andrew P. Stone | officer: Chief Legal Officer | +5,000 | $4.12 |
| Sep 21, 2026 | Sasha G. Macomber | officer: Chief Human Resource Officer | +4,895 | $4.08 |
| Sep 16, 2026 | Dashiell I. Robinson | director, officer: President | +63,211 | $3.98 |
| Sep 15, 2026 | Greg H. Kubicek | director | +50,000 | $3.85 |
| Sep 15, 2026 | Christopher J. Abate | director, officer: Chief Executive Officer | +100,000 | $3.84 |
- Rithm Capital
Non-QM securitization and residential-investor lending peer
- Chimera Investment
Non-QM, business-purpose, and non-agency mortgage-credit peer
- Arbor Realty Trust
Single-family-rental and bridge-finance peer for business-purpose loans
- PennyMac Financial Services
Large correspondent-mortgage and secondary-market execution peer
- Figure
Home-equity financing and capital-market platform peer
- Sachem Capital
Short-term investor-property bridge-lending peer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Redwood Trust | $3.80 | −7.54% | $516.2M | — | 4.0 | 0.5 | +68.5% |
| Rithm Capital | $9.50 | −1.50% | $5.38B | 16.1 | 4.3 | 1.0 | +205.4% |
| Chimera Investment | $10.91 | −2.20% | $932.7M | — | 5.9 | 1.4 | −64.4% |
| Arbor Realty Trust | $4.33 | −1.48% | $844.5M | 32.4 | 10.2 | 0.7 | −11.1% |
| PennyMac Financial Services | $65.31 | −2.46% | $3.48B | 9.2 | 7.8 | 0.7 | +11.8% |
| Figure | $35.05 | −5.55% | $6.78B | 48.8 | 26.3 | 9.5 | +95.2% |
| Sachem Capital | $0.9150 | −2.96% | $45.2M | — | — | 1.0 | −13.1% |
| Median | 24.3 | 7.8 | 1.0 | +0.3% |