Redwood Trust (NYSE:RWT) Earns “Buy” Rating from JonesTrading

Redwood Trust (NYSE:RWT)‘s stock had its “buy” rating restated by JonesTrading in a research note issued on Tuesday,Benzinga reports. They currently have a $6.25 price objective on the real estate investment trust’s stock. JonesTrading’s price objective points to a potential upside of 2.63% from the company’s current price.

RWT has been the topic of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 18th. Zacks Research upgraded shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Wall Street Zen raised Redwood Trust from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Citigroup reissued a “market perform” rating on shares of Redwood Trust in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.96.

Redwood Trust Stock Performance

Redwood Trust stock opened at $6.09 on Tuesday. The stock has a fifty day moving average of $5.81 and a two-hundred day moving average of $5.73. Redwood Trust has a fifty-two week low of $4.68 and a fifty-two week high of $6.97. The company has a market capitalization of $761.19 million, a price-to-earnings ratio of -9.98 and a beta of 1.55. The company has a debt-to-equity ratio of 24.34, a quick ratio of 57.77 and a current ratio of 55.15.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $86.86 million for the quarter, compared to analyst estimates of $24.88 million. Redwood Trust had a positive return on equity of 12.00% and a negative net margin of 5.93%. On average, analysts anticipate that Redwood Trust will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RWT. Clearstead Advisors LLC raised its holdings in shares of Redwood Trust by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 3,572 shares during the last quarter. CWM LLC raised its stake in Redwood Trust by 270.5% during the 2nd quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 4,503 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,082 shares during the period. Westbourne Investments Inc. bought a new position in shares of Redwood Trust in the fourth quarter worth $55,000. Finally, Bank of Marin acquired a new position in shares of Redwood Trust during the fourth quarter valued at $58,000. Institutional investors own 74.34% of the company’s stock.

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.