StockNews.com Downgrades Redwood Trust (NYSE:RWT) to Sell

Redwood Trust (NYSE:RWT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other research firms have also recently weighed in on RWT. Wells Fargo & Company lifted their price objective on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their target price on Redwood Trust from $7.50 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Raymond James upped their target price on shares of Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. JMP Securities boosted their price target on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. Finally, Wedbush lifted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.19.

Redwood Trust Trading Down 0.7 %

Shares of RWT stock opened at $7.27 on Friday. The company has a debt-to-equity ratio of 13.75, a current ratio of 50.47 and a quick ratio of 50.47. Redwood Trust has a 1-year low of $5.45 and a 1-year high of $8.15. The stock has a market capitalization of $961.24 million, a PE ratio of 13.22 and a beta of 1.59. The business has a 50-day moving average of $7.59 and a 200 day moving average of $6.95.

Redwood Trust (NYSE:RWT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Redwood Trust had a net margin of 12.59% and a return on equity of 5.93%. During the same quarter last year, the company earned $0.14 earnings per share. As a group, sell-side analysts anticipate that Redwood Trust will post 0.52 earnings per share for the current year.

Institutional Trading of Redwood Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Concurrent Investment Advisors LLC grew its position in shares of Redwood Trust by 269.9% during the third quarter. Concurrent Investment Advisors LLC now owns 39,273 shares of the real estate investment trust’s stock worth $304,000 after purchasing an additional 28,655 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of Redwood Trust by 22.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,113,600 shares of the real estate investment trust’s stock worth $8,608,000 after acquiring an additional 207,088 shares in the last quarter. Golden State Equity Partners lifted its position in Redwood Trust by 19.3% during the third quarter. Golden State Equity Partners now owns 70,562 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 11,396 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in Redwood Trust in the third quarter worth about $722,000. Finally, Creative Planning purchased a new stake in Redwood Trust during the 3rd quarter valued at $91,000. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer 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.