Redwood Trust (NYSE:RWT) Downgraded by StockNews.com to "Sell"

Redwood Trust (NYSE:RWT - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

A number of other research firms have also commented on RWT. JPMorgan Chase & Co. lifted their price objective on Redwood Trust from $7.50 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an "equal weight" rating in a research report on Friday, September 20th. Raymond James boosted their target price on Redwood Trust from $8.50 to $9.50 and gave the company a "strong-buy" rating in a research report on Thursday, September 19th. Piper Sandler upped their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.19.

Redwood Trust Price Performance

Shares of NYSE RWT traded down $0.06 during trading hours on Friday, hitting $7.27. 1,477,152 shares of the stock were exchanged, compared to its average volume of 1,086,621. Redwood Trust has a 1-year low of $5.45 and a 1-year high of $8.15. The company has a market cap of $960.55 million, a PE ratio of 13.21 and a beta of 1.58. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. The company's fifty day simple moving average is $7.59 and its two-hundred day simple moving average is $6.94.

Redwood Trust (NYSE:RWT - Get Free Report) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 6.02%. During the same quarter last year, the business posted $0.14 EPS. On average, sell-side analysts predict that Redwood Trust will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Redwood Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Redwood Trust by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 2,043 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Redwood Trust in the 2nd quarter worth about $69,000. MQS Management LLC bought a new stake in Redwood Trust during the 1st quarter valued at about $72,000. Algert Global LLC purchased a new stake in shares of Redwood Trust in the second quarter valued at approximately $86,000. Finally, Ameritas Investment Partners Inc. grew its stake in Redwood Trust by 26.5% in the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 3,000 shares in the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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