Redwood Trust (NYSE:RWT) Upgraded at 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 research report issued on Sunday.

A number of other analysts have also recently issued reports on RWT. JPMorgan Chase & Co. raised Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price objective on the stock in a report on Friday, January 23rd. Jones Trading cut their price objective on shares of Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Redwood Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Redwood Trust currently has a consensus rating of “Moderate Buy” and an average price target of $6.75.

Redwood Trust Stock Performance

NYSE:RWT opened at $6.59 on Friday. The company has a market capitalization of $834.19 million, a PE ratio of -10.80 and a beta of 1.59. The company has a debt-to-equity ratio of 22.68, a quick ratio of 57.77 and a current ratio of 57.77. The company has a 50 day simple moving average of $5.67 and a two-hundred day simple moving average of $5.69. Redwood Trust has a fifty-two week low of $4.68 and a fifty-two week high of $6.97.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $87.30 million during the quarter, compared to analyst estimates of $24.88 million. Redwood Trust had a negative net margin of 8.62% and a positive return on equity of 11.80%. Research analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Redwood Trust

Hedge funds have recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in shares of Redwood Trust by 192.5% during the 4th 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 during the last quarter. CWM LLC grew its position in Redwood Trust by 270.5% during the second quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 4,503 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 acquiring an additional 6,082 shares in the last quarter. Westbourne Investments Inc. bought a new stake in shares of Redwood Trust in the 4th quarter worth approximately $55,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Redwood Trust by 136.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,823 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 6,255 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.

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.