StockNews.com Upgrades Redwood Trust (NYSE:RWT) to "Hold"

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

RWT has been the topic of several other research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $8.00 price objective on shares of Redwood Trust in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on Redwood Trust from $7.00 to $6.50 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.75.

Redwood Trust Stock Performance

RWT stock traded up $0.08 during trading on Wednesday, reaching $6.56. The stock had a trading volume of 477,015 shares, compared to its average volume of 813,750. Redwood Trust has a 52 week low of $5.45 and a 52 week high of $8.15. The stock's 50 day moving average is $6.47 and its two-hundred day moving average is $7.03. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. The firm has a market cap of $868.80 million, a PE ratio of 19.87 and a beta of 1.63.

Remove Ads

Redwood Trust (NYSE:RWT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The company had revenue of $27.60 million during the quarter, compared to the consensus estimate of $26.00 million. As a group, equities analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current year.

Institutional Trading of Redwood Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Redwood Trust by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust's stock valued at $112,945,000 after purchasing an additional 941,223 shares during the period. State Street Corp grew its holdings in Redwood Trust by 2.0% during the 3rd quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust's stock valued at $40,116,000 after buying an additional 102,274 shares in the last quarter. Geode Capital Management LLC grew its holdings in Redwood Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust's stock valued at $23,492,000 after buying an additional 25,444 shares in the last quarter. Boston Partners grew its holdings in Redwood Trust by 8.3% during the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock valued at $17,561,000 after buying an additional 206,698 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Redwood Trust by 150.9% during the 4th quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust's stock valued at $13,031,000 after buying an additional 1,200,050 shares in the last quarter. Institutional investors own 74.34% of the company's stock.

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.