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

Redwood Trust (NYSE:RWT) was downgraded by stock 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 analysts have also issued reports on RWT. Wells Fargo & Company upped their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Raymond James lifted their price target on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Piper Sandler increased their price objective on Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised 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. Finally, JMP Securities upped their target price on Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Redwood Trust has a consensus rating of “Moderate Buy” and an average price target of $8.19.

Redwood Trust Stock Down 0.8 %

RWT traded down $0.06 during trading on Friday, hitting $7.27. The stock had a trading volume of 1,477,152 shares, compared to its average volume of 1,086,621. The stock has a 50 day simple moving average of $7.59 and a two-hundred day simple moving average of $6.94. The company has a market capitalization 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. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.15.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Redwood Trust had a return on equity of 6.02% and a net margin of 4.45%. During the same period in the previous year, the firm earned $0.14 earnings per share. On average, research analysts predict that Redwood Trust will post 0.52 earnings per share for the current year.

Institutional Trading of Redwood Trust

A number of institutional investors and hedge funds have recently modified their holdings of RWT. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Redwood Trust by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,231 shares of the real estate investment trust’s stock valued at $7,182,000 after acquiring an additional 127,143 shares during the last quarter. SG Americas Securities LLC acquired a new position in Redwood Trust in the 2nd quarter valued at $242,000. Illinois Municipal Retirement Fund raised its stake in Redwood Trust by 4.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 69,768 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 2,993 shares during the last quarter. Van ECK Associates Corp boosted its stake in Redwood Trust by 21.7% during the 2nd quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock worth $6,336,000 after purchasing an additional 174,317 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Redwood Trust during the third quarter worth $722,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

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.