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

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

Several other analysts have also recently weighed in on RWT. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a report on Thursday. Jones Trading cut their target price on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price target for the company in a research note on Friday. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.75.

Redwood Trust Trading Up 3.3%

RWT opened at $5.82 on Friday. Redwood Trust has a one year low of $4.68 and a one year high of $6.73. The company has a debt-to-equity ratio of 22.73, a current ratio of 57.77 and a quick ratio of 57.77. The business has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $5.72. The firm has a market capitalization of $736.64 million, a price-to-earnings ratio of -7.18 and a beta of 1.58.

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

Institutional Investors Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners grew its stake in shares of Redwood Trust by 2.0% in the second quarter. Boston Partners now owns 2,750,890 shares of the real estate investment trust’s stock worth $16,117,000 after acquiring an additional 54,209 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Redwood Trust by 4.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 41,474 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 1,866 shares in the last quarter. State of Alaska Department of Revenue grew its position in Redwood Trust by 8.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 79,299 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 5,871 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Redwood Trust during the 2nd quarter valued at about $1,114,000. Finally, NFC Investments LLC increased its stake in Redwood Trust by 12.8% during the 2nd quarter. NFC Investments LLC now owns 486,181 shares of the real estate investment trust’s stock valued at $2,873,000 after purchasing an additional 55,081 shares in the last quarter. Hedge funds and other institutional investors 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.