Redwood Trust (NYSE:RWT - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $6.50 price objective on the real estate investment trust's stock. Wedbush's price objective would suggest a potential upside of 5.18% from the company's previous close.
Several other research analysts have also recently weighed in on RWT. UBS Group dropped their price target on shares of Redwood Trust from $9.00 to $8.50 and set a "buy" rating on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company dropped their price target on shares of Redwood Trust from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 21st. Raymond James dropped their price target on shares of Redwood Trust from $9.00 to $8.50 and set a "strong-buy" rating on the stock in a research note on Friday, January 19th. JMP Securities reiterated a "market outperform" rating and set a $8.00 price target on shares of Redwood Trust in a research note on Thursday, April 18th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Redwood Trust from $7.75 to $7.25 and set an "outperform" rating on the stock in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Redwood Trust has a consensus rating of "Moderate Buy" and a consensus price target of $7.66.
Read Our Latest Report on RWT
Redwood Trust Stock Performance
RWT stock traded up $0.65 on Wednesday, hitting $6.18. The company had a trading volume of 3,804,635 shares, compared to its average volume of 1,452,058. Redwood Trust has a 12-month low of $5.45 and a 12-month high of $8.30. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 10.12. The stock's 50-day simple moving average is $6.02 and its 200 day simple moving average is $6.62. The stock has a market cap of $813.16 million, a price-to-earnings ratio of -51.50 and a beta of 1.48.
Institutional Trading of Redwood Trust
Several institutional investors and hedge funds have recently modified their holdings of RWT. Simon Quick Advisors LLC increased its holdings in Redwood Trust by 6.3% in the 4th quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust's stock valued at $187,000 after acquiring an additional 1,488 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Redwood Trust by 2.4% in the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust's stock valued at $540,000 after acquiring an additional 1,715 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Redwood Trust by 8.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 24,292 shares of the real estate investment trust's stock valued at $180,000 after acquiring an additional 1,847 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Redwood Trust by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 617,725 shares of the real estate investment trust's stock valued at $4,577,000 after acquiring an additional 2,296 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Redwood Trust by 45.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,965 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 2,498 shares during the last quarter. 74.34% of the stock is currently owned by institutional investors.
Redwood Trust Company Profile
(
Get Free Report)
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.
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