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

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

Several other research firms have also issued reports on RWT. BTIG Research restated a “buy” rating and set a $8.50 price target on shares of Redwood Trust in a research report on Friday, September 26th. UBS Group boosted their target price on Redwood Trust from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, October 8th. Finally, Jones Trading decreased their price target on Redwood Trust from $7.00 to $6.25 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Redwood Trust presently has an average rating of “Hold” and an average target price of $6.75.

Redwood Trust Stock Down 0.3%

Shares of NYSE RWT opened at $5.54 on Friday. The stock has a market capitalization of $701.17 million, a P/E ratio of -6.83 and a beta of 1.59. Redwood Trust has a one year low of $4.68 and a one year high of $6.73. The firm’s 50 day simple moving average is $5.44 and its two-hundred day simple moving average is $5.74. The company has a debt-to-equity ratio of 22.73, a current ratio of 57.77 and a quick ratio of 57.77.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Redwood Trust had a negative net margin of 8.62% and a positive return on equity of 9.19%. The company had revenue of $54.37 million during the quarter, compared to analysts’ expectations of $31.04 million. As a group, analysts expect that Redwood Trust will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Redwood Trust

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Redwood Trust by 10.2% in the third quarter. Wellington Management Group LLP now owns 15,020,483 shares of the real estate investment trust’s stock worth $86,969,000 after acquiring an additional 1,395,675 shares during the period. Geode Capital Management LLC increased its position in 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 purchasing an additional 80,206 shares during the period. Boston Partners raised its holdings in Redwood Trust by 2.0% in the 2nd 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Redwood Trust by 7.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,148,393 shares of the real estate investment trust’s stock worth $12,439,000 after purchasing an additional 149,003 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Redwood Trust by 29.9% in the 3rd quarter. Invesco Ltd. now owns 2,034,437 shares of the real estate investment trust’s stock worth $11,779,000 after purchasing an additional 468,720 shares during the period. 74.34% of the stock is owned by hedge funds and other 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.