Redwood Trust (NYSE:RWT) Upgraded by Zacks Investment Research to “Hold”

Redwood Trust (NYSE:RWTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, 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. “

Other research analysts also recently issued reports about the stock. Piper Sandler decreased their target price on shares of Redwood Trust from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Credit Suisse Group decreased their target price on shares of Redwood Trust from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. JMP Securities decreased their target price on shares of Redwood Trust from $14.50 to $13.00 in a research note on Tuesday, April 26th. TheStreet downgraded shares of Redwood Trust from a “c” rating to a “d+” rating in a research note on Thursday, April 14th. Finally, StockNews.com began coverage on shares of Redwood Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Redwood Trust presently has an average rating of “Buy” and an average price target of $14.29.

Redwood Trust stock opened at $9.66 on Tuesday. Redwood Trust has a 52-week low of $8.63 and a 52-week high of $14.17. The firm has a fifty day moving average of $10.13 and a 200-day moving average of $11.93. The firm has a market capitalization of $1.16 billion, a P/E ratio of 5.11 and a beta of 0.96. The company has a quick ratio of 5.53, a current ratio of 7.79 and a debt-to-equity ratio of 7.50.

Redwood Trust (NYSE:RWTGet Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). Redwood Trust had a return on equity of 12.87% and a net margin of 39.78%. During the same quarter last year, the business posted $0.40 earnings per share. On average, research analysts expect that Redwood Trust will post 1.32 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System increased its stake in 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 buying an additional 917 shares during the period. Wealthspire Advisors LLC increased its stake in 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 buying an additional 940 shares during the period. Louisiana State Employees Retirement System increased its stake in 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 buying an additional 1,000 shares during the period. Geneos Wealth Management Inc. increased its stake in Redwood Trust by 66.8% during 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 period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Redwood Trust by 9.4% during 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 period. 75.21% 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.

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