Redwood Trust (NYSE:RWT) Stock Rating Upgraded by Wall Street Zen

Redwood Trust (NYSE:RWT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

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

Redwood Trust Trading Down 1.4%

NYSE RWT opened at $6.59 on Friday. The firm has a market cap of $834.19 million, a PE ratio of -10.80 and a beta of 1.59. Redwood Trust has a 1-year low of $4.68 and a 1-year high of $6.97. The stock has a 50-day moving average of $5.67 and a 200-day moving average of $5.69. The company has a current ratio of 57.77, a quick ratio of 57.77 and a debt-to-equity ratio of 22.68.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Redwood Trust had a positive return on equity of 11.80% and a negative net margin of 8.62%.The business had revenue of $87.30 million for the quarter, compared to analysts’ expectations of $24.88 million. As a group, sell-side analysts forecast that Redwood Trust will post 0.78 EPS for the current year.

Institutional Trading of Redwood Trust

A number of hedge funds have recently modified their holdings of RWT. Wellington Management Group LLP grew its position in shares of Redwood Trust by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 15,020,483 shares of the real estate investment trust’s stock worth $86,969,000 after buying an additional 1,395,675 shares during the period. UBS Group AG lifted its position in Redwood Trust by 521.1% during 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 acquiring an additional 3,251,302 shares during the period. Geode Capital Management LLC boosted its stake in Redwood Trust by 2.6% during the second quarter. Geode Capital Management LLC now owns 3,176,277 shares of the real estate investment trust’s stock worth $18,773,000 after acquiring an additional 80,206 shares in the last quarter. Boston Partners grew its holdings in Redwood Trust by 2.0% in the second quarter. Boston Partners now owns 2,750,890 shares of the real estate investment trust’s stock worth $16,117,000 after purchasing an additional 54,209 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Redwood Trust by 15.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,169,992 shares of the real estate investment trust’s stock valued at $12,000,000 after purchasing an additional 282,800 shares in the last quarter. Institutional investors own 74.34% of the company’s stock.

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.