SEC Form SC 13G/A filed

2/8/21 10:31:28 AM ET

Real Estate Investment Trusts

Real Estate

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SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No. 8 REDWOOD TRUST INC COMMON STOCK Cusip #758075402 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #758075402 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 1,691,791 Item 6: 0 Item 7: 10,572,468 Item 8: 0 Item 9: 10,572,468 Item 11: 8.859% Item 12: HC Cusip #758075402 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 10,572,468 Item 8: 0 Item 9: 10,572,468 Item 11: 8.859% Item 12: IN Cusip #758075402 Item 1: Reporting Person - Fidelity Real Estate Income Fund Item 2: (a) [ ] (b) [ ] Item 4: Massachusetts Item 5: 7,093,132 Item 6: 0 Item 7: 0 Item 8: 0 Item 9: 7,093,132 Item 11: 5.943% Item 12: IV Item 1(a). Name of Issuer: REDWOOD TRUST INC Item 1(b). Address of Issuer's Principal Executive Offices: One Belvedere Place, Suite 300 Mill Valley, CA 94941 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 758075402 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 10,572,468 (b) Percent of Class: 8.859% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 1,691,791 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 10,572,468 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of REDWOOD TRUST INC. No one other person's interest in the COMMON STOCK of REDWOOD TRUST INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 5, 2021 Date /s/ Kevin M. Meagher Signature Kevin M. Meagher Duly authorized under Power of Attorney effective as of September 28, 2018, by and on behalf of FMR LLC and its direct and indirect subsidiaries* * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on October 9, 2018, accession number: 0000315066-18-002414. Exhibit A Pursuant to the instructions in Item 7 of Schedule 13G, the following table lists the identity and Item 3 classification, if applicable, of each relevant entity that beneficially owns shares of the security class being reported on this Schedule 13G. Entity ITEM 3 Classification FIAM LLC IA Fidelity Institutional Asset Management Trust Company BK Fidelity Management & Research Company LLC * IA Strategic Advisers LLC IA * Entity beneficially owns 5% or greater of the outstanding shares of the security class being reported on this Schedule 13G. Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. Neither FMR LLC nor Abigail P. Johnson has the sole power to vote or direct the voting of the shares owned directly by the various investment companies registered under the Investment Company Act ("Fidelity Funds") advised by Fidelity Management & Research Company LLC ("FMR Co. LLC"), a wholly owned subsidiary of FMR LLC, which power resides with the Fidelity Funds' Boards of Trustees. FMR Co. LLC carries out the voting of the shares under written guidelines established by the Fidelity Funds' Boards of Trustees. This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies (collectively, the "FMR Reporters"). This filing does not reflect securities, if any, beneficially owned by certain other companies whose beneficial ownership of securities is disaggregated from that of the FMR Reporters in accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998). RULE 13d-1(k)(1) AGREEMENT The undersigned persons, on February 5, 2021, agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the COMMON STOCK of REDWOOD TRUST INC at December 31, 2020. FMR LLC By /s/ Kevin M. Meagher Kevin M. Meagher Duly authorized under Power of Attorney effective as of September 28, 2018, by and on behalf of FMR LLC and its direct and indirect subsidiaries* Abigail P. Johnson By /s/ Kevin M. Meagher Kevin M. Meagher Duly authorized under Power of Attorney effective as of September 30, 2018, by and on behalf of Abigail P. Johnson* Fidelity Real Estate Income Fund By /s/ Kevin M. Meagher Kevin M. Meagher Duly authorized under Power of Attorney* * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on October 9, 2018, accession number: 0000315066-18-002414.

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Date	Price Target	Rating	Analyst
1/23/2026	$6.00	Neutral → Overweight	Analyst
7/10/2025	$6.50	Outperform → Mkt Perform	Keefe Bruyette
12/9/2024	$8.00 → $7.00	Overweight → Neutral	Analyst
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12/5/2023	$8.50	Neutral → Buy	BTIG Research
6/15/2023	$7.00	Overweight → Neutral	Piper Sandler
10/5/2022	$9.00	Outperform	Wedbush

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SEC Form SC 13G/A filed

2/8/21 10:31:28 AM ET

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Real Estate Investment Trusts

Real Estate

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Recent Analyst Ratings for

$RWT

Date	Price Target	Rating	Analyst
1/23/2026	$6.00	Neutral → Overweight	Analyst
7/10/2025	$6.50	Outperform → Mkt Perform	Keefe Bruyette
12/9/2024	$8.00 → $7.00	Overweight → Neutral	Analyst
4/11/2024		Outperform → Neutral	Wedbush
12/6/2023	$9.00	Buy	UBS
12/5/2023	$8.50	Neutral → Buy	BTIG Research
6/15/2023	$7.00	Overweight → Neutral	Piper Sandler
10/5/2022	$9.00	Outperform	Wedbush

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SEC Form SC 13G/A filed

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SEC Form SC 13G/A filed

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Analyst Ratings

Redwood Trust upgraded by Analyst with a new price target

Redwood Trust downgraded by Keefe Bruyette with a new price target

Redwood Trust downgraded by Analyst with a new price target

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Insider Purchases

Carillo Brooke bought $93,720 worth of shares (15,000 units at $6.25), increasing direct ownership by 36% to 56,772 units (SEC Form 4)

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Insider Trading

Schwartz Faith A exercised 10,054 shares at a strike of $6.34, increasing direct ownership by 149% to 16,810 units (SEC Form 4)

Hansen Douglas B exercised 10,054 shares at a strike of $6.34 (SEC Form 4)

Falcon Armando exercised 10,054 shares at a strike of $6.34, increasing direct ownership by 149% to 16,810 units (SEC Form 4)

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SEC Filings

SEC Form CERT filed by Redwood Trust Inc.

Redwood Trust Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Other Events, Financial Statements and Exhibits

SEC Form 8-A12B filed by Redwood Trust Inc.

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Press Releases

Redwood Trust Announces Dividend Distribution Tax Information for 2025

Redwood Trust Announces Date of Fourth Quarter and Full Year 2025 Financial Results Webcast and Conference Call

KBW Announces Index Rebalancing for Fourth-Quarter 2025

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Large Ownership Changes

SEC Form SC 13G filed by Redwood Trust Inc.

SEC Form SC 13G filed by Redwood Trust Inc.