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NEW YORK ( TheStreet) -- The ex-dividend date for Redwood (NYSE: RWT) is tomorrow, September 28, 2011. Owners of shares as of market close today will be eligible for a dividend of 25 cents per share. At a price of $12.14 as of 9:30 a.m. ET, the dividend yield is 8.5%. The average volume for Redwood has been 709,700 shares per day over the past 30 days. Redwood has a market cap of $930.3 million and is part of the financial sector and real estate industry. Shares are down 20% year to date as of the close of trading on Monday. Redwood Trust, Inc., a financial institution, together with its subsidiaries, invests in, finances, and manages residential and commercial real estate loans and securities. The company has a P/E ratio of 15.6, equal to the average real estate industry P/E ratio and below the S&P 500 P/E ratio of 17.7.