Redwood Trust (NYSE:RWT) Stock Rating Lowered by Zacks Investment Research

Redwood Trust (NYSE:RWTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “

Several other equities research analysts also recently issued reports on the company. TheStreet downgraded Redwood Trust from a “c” rating to a “d+” rating in a research note on Thursday, April 14th. Piper Sandler cut their price target on Redwood Trust from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. StockNews.com assumed coverage on Redwood Trust in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Credit Suisse Group cut their price target on Redwood Trust from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $14.57.

Shares of Redwood Trust stock opened at $9.25 on Thursday. The stock has a 50-day moving average price of $10.36 and a 200 day moving average price of $12.19. The company has a market cap of $1.11 billion, a P/E ratio of 3.90 and a beta of 0.97. The company has a current ratio of 5.53, a quick ratio of 5.53 and a debt-to-equity ratio of 7.86. Redwood Trust has a 1 year low of $9.04 and a 1 year high of $14.17.

Redwood Trust (NYSE:RWTGet Rating) last announced its quarterly earnings data on Wednesday, February 9th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). Redwood Trust had a return on equity of 14.57% and a net margin of 55.48%. During the same period in the previous year, the company earned $0.26 earnings per share. On average, equities analysts forecast that Redwood Trust will post 1.35 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Maryland State Retirement & Pension System increased its holdings in shares of Redwood Trust by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 45,717 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 917 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Redwood Trust by 1.6% during the 3rd quarter. Wealthspire Advisors LLC now owns 58,429 shares of the real estate investment trust’s stock valued at $753,000 after acquiring an additional 940 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Redwood Trust by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 55,500 shares of the real estate investment trust’s stock valued at $732,000 after acquiring an additional 1,000 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Redwood Trust by 66.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,560 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,025 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Redwood Trust by 9.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,143 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 1,039 shares during the last quarter. 72.37% of the stock is currently owned by institutional investors and hedge funds.

About Redwood Trust (Get Rating)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.

See Also

Get a free copy of the Zacks research report on Redwood Trust (RWT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Redwood Trust (NYSE:RWT)

Receive News & Ratings for Redwood Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redwood Trust and related companies with MarketBeat.com's FREE daily email newsletter.