Redwood Trust (NYSE:RWT) Raised to “Hold” at StockNews.com

Redwood Trust (NYSE:RWT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other equities analysts also recently issued reports on RWT. Piper Sandler raised their price target on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Redwood Trust from $7.50 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wedbush increased their price objective 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. JMP Securities boosted their target price on shares of Redwood Trust from $8.50 to $9.00 and gave the company a “market outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company increased their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.19.

Redwood Trust Price Performance

Shares of RWT opened at $7.07 on Monday. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.15. The company has a market capitalization of $934.80 million, a P/E ratio of 12.85 and a beta of 1.59. The firm has a 50 day moving average of $7.56 and a 200 day moving average of $7.02. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 13.75.

Institutional Trading of Redwood Trust

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Redwood Trust by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 2,043 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Redwood Trust during the second quarter worth about $69,000. MQS Management LLC bought a new stake in Redwood Trust during the 1st quarter valued at approximately $72,000. Algert Global LLC purchased a new position in Redwood Trust in the 2nd quarter worth approximately $86,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Redwood Trust by 26.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 3,000 shares during the period. 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.