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

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

RWT has been the topic of a number of other reports. Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods raised their price objective on Redwood Trust from $5.75 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, February 18th. JonesTrading reiterated a “buy” rating and set a $6.25 price objective on shares of Redwood Trust in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. raised Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 target price on the stock in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Redwood Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.96.

Redwood Trust Trading Down 1.2%

Shares of NYSE RWT opened at $5.30 on Friday. Redwood Trust has a 1 year low of $4.68 and a 1 year high of $6.97. The company has a debt-to-equity ratio of 24.34, a current ratio of 55.15 and a quick ratio of 55.15. The firm has a 50-day moving average of $5.86 and a 200 day moving average of $5.69. The stock has a market cap of $661.82 million, a P/E ratio of -8.68 and a beta of 1.55.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Redwood Trust had a positive return on equity of 12.00% and a negative net margin of 5.93%.The business had revenue of $140.33 million during the quarter, compared to analysts’ expectations of $24.88 million. As a group, sell-side analysts expect that Redwood Trust will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RWT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Redwood Trust by 26.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 492,661 shares of the real estate investment trust’s stock valued at $2,990,000 after purchasing an additional 103,893 shares during the period. Jane Street Group LLC purchased a new stake in Redwood Trust during the 1st quarter valued at $2,018,000. Strs Ohio purchased a new stake in Redwood Trust during the 1st quarter valued at $149,000. Geode Capital Management LLC lifted its holdings in shares of Redwood Trust by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,176,277 shares of the real estate investment trust’s stock valued at $18,773,000 after buying an additional 80,206 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Redwood Trust by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 388,911 shares of the real estate investment trust’s stock valued at $2,298,000 after buying an additional 10,631 shares during the period. 74.34% of the stock is 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.