Redwood Trust (NYSE:RWT) Cut to Sell at Wall Street Zen

Redwood Trust (NYSE:RWT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities research analysts also recently issued reports on the stock. Jones Trading cut their price objective on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price target for the company in a report on Friday, January 23rd. Zacks Research upgraded Redwood Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.75.

Redwood Trust Price Performance

Shares of RWT opened at $5.68 on Friday. The company’s 50-day moving average is $5.64 and its 200-day moving average is $5.70. The company has a debt-to-equity ratio of 22.73, a current ratio of 57.77 and a quick ratio of 57.77. The firm has a market capitalization of $718.91 million, a PE ratio of -7.01 and a beta of 1.59. Redwood Trust has a fifty-two week low of $4.68 and a fifty-two week high of $6.73.

Institutional Trading of Redwood Trust

A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Redwood Trust by 106.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,062 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 7,767 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Redwood Trust during the fourth quarter worth about $382,000. Inscription Capital LLC acquired a new stake in Redwood Trust during the fourth quarter worth about $155,000. UBS Group AG increased its holdings in Redwood Trust by 521.1% in the 4th quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock valued at $21,430,000 after buying an additional 3,251,302 shares during the period. Finally, Peregrine Capital Management LLC raised its position in shares of Redwood Trust by 7.5% in the 4th quarter. Peregrine Capital Management LLC now owns 944,401 shares of the real estate investment trust’s stock valued at $5,223,000 after buying an additional 66,178 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.