Redwood Trust (NYSE:RWT) Downgraded by Wedbush to Neutral

Redwood Trust (NYSE:RWT - Get Free Report) was downgraded by research analysts at Wedbush from an "outperform" rating to a "neutral" rating in a report released on Thursday, Marketbeat.com reports. They currently have a $6.50 price target on the real estate investment trust's stock, down from their prior price target of $8.00. Wedbush's target price would suggest a potential upside of 11.49% from the stock's previous close.

Several other research firms have also recently issued reports on RWT. Raymond James decreased their price objective on Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating on the stock in a report on Friday, January 19th. Wells Fargo & Company lowered their price target on Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, February 21st. Keefe, Bruyette & Woods decreased their target price on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating on the stock in a research report on Wednesday. Piper Sandler dropped their price target on shares of Redwood Trust from $7.50 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 21st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $8.00 price target on shares of Redwood Trust in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Redwood Trust presently has a consensus rating of "Moderate Buy" and an average price target of $7.64.

Redwood Trust Trading Down 2.0 %

Shares of RWT traded down $0.12 on Thursday, hitting $5.83. 1,956,753 shares of the stock traded hands, compared to its average volume of 1,507,630. Redwood Trust has a 1 year low of $5.47 and a 1 year high of $8.30. The stock's 50 day moving average is $6.29 and its two-hundred day moving average is $6.76. The firm has a market capitalization of $767.09 million, a P/E ratio of -48.58 and a beta of 1.48. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd increased its holdings in Redwood Trust by 122.8% during the 4th quarter. Quadrature Capital Ltd now owns 40,374 shares of the real estate investment trust's stock worth $299,000 after purchasing an additional 22,254 shares during the last quarter. Vanguard Group Inc. boosted its stake in Redwood Trust by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust's stock valued at $96,134,000 after acquiring an additional 78,222 shares during the last quarter. Wellington Management Group LLP grew its holdings in Redwood Trust by 164.4% during the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust's stock worth $83,842,000 after acquiring an additional 7,035,524 shares in the last quarter. O Dell Group LLC bought a new stake in shares of Redwood Trust in the 4th quarter worth about $44,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Redwood Trust by 5.5% in the 4th quarter. Nuveen Asset Management LLC now owns 306,616 shares of the real estate investment trust's stock valued at $2,272,000 after purchasing an additional 16,069 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company's stock.

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.