Redwood Trust’s (RWT) “Buy” Rating Reaffirmed at BTIG Research

Redwood Trust (NYSE:RWT)‘s stock had its “buy” rating restated by BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $6.00 price target on the real estate investment trust’s stock. BTIG Research’s price target indicates a potential upside of 33.78% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Redwood Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. reduced their price target on shares of Redwood Trust from $6.50 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. JonesTrading reaffirmed a “buy” rating and set a $6.25 price objective on shares of Redwood Trust in a report on Thursday, April 30th. Citizens Jmp cut their target price on shares of Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Finally, Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.11.

Redwood Trust Stock Performance

Redwood Trust stock traded down $0.46 on Tuesday, hitting $4.49. The company’s stock had a trading volume of 2,452,198 shares, compared to its average volume of 1,913,005. The company has a fifty day moving average price of $5.07 and a 200-day moving average price of $5.52. Redwood Trust has a one year low of $4.19 and a one year high of $6.97. The firm has a market cap of $561.61 million, a P/E ratio of -5.73 and a beta of 1.37. The company has a quick ratio of 59.63, a current ratio of 59.63 and a debt-to-equity ratio of 28.42.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Clearstead Advisors LLC increased its stake in Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 3,572 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Redwood Trust by 331.8% during the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 6,082 shares in the last quarter. Westbourne Investments Inc. bought a new position in shares of Redwood Trust during the fourth quarter worth $55,000. Bank of Marin acquired a new position in shares of Redwood Trust in the 4th quarter valued at $58,000. Finally, Abel Hall LLC acquired a new position in shares of Redwood Trust in the 4th quarter valued at $58,000. Institutional investors and hedge funds 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.