Redwood Trust (NYSE:RWT) Raised to Hold at Wall Street Zen

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

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

Redwood Trust Stock Performance

Shares of NYSE RWT opened at $6.59 on Friday. The company has a market cap of $834.19 million, a PE ratio of -10.80 and a beta of 1.59. Redwood Trust has a 12 month low of $4.68 and a 12 month high of $6.97. The company has a debt-to-equity ratio of 22.68, a current ratio of 57.77 and a quick ratio of 57.77. The company has a 50-day simple moving average of $5.70 and a 200-day simple moving average of $5.70.

Redwood Trust (NYSE:RWT) last announced its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $87.30 million for the quarter, compared to analyst estimates of $24.88 million. Redwood Trust had a negative net margin of 8.62% and a positive return on equity of 11.80%. On average, equities analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On Redwood Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Concurrent Investment Advisors LLC raised its holdings in Redwood Trust by 4.7% in the second quarter. Concurrent Investment Advisors LLC now owns 41,474 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 1,866 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Redwood Trust by 1.4% in the 2nd quarter. Intech Investment Management LLC now owns 151,270 shares of the real estate investment trust’s stock worth $894,000 after purchasing an additional 2,033 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Redwood Trust by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,177 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 2,464 shares during the last quarter. Inceptionr LLC raised its stake in shares of Redwood Trust by 10.7% in the 3rd quarter. Inceptionr LLC now owns 26,377 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Redwood Trust by 0.8% during the third quarter. Rhumbline Advisers now owns 392,058 shares of the real estate investment trust’s stock worth $2,270,000 after purchasing an additional 3,147 shares during the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

About Redwood Trust

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.