Redwood Trust (NYSE:RWT - Get Free Report) had its price target lowered by stock analysts at UBS Group from $7.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. UBS Group's price objective would suggest a potential upside of 13.54% from the stock's current price.
A number of other brokerages also recently weighed in on RWT. JPMorgan Chase & Co. boosted their target price on shares of Redwood Trust from $5.50 to $6.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Wall Street Zen raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. JMP Securities dropped their price objective on shares of Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods downgraded Redwood Trust from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $7.00 to $6.50 in a report on Thursday, July 10th. Finally, Jones Trading reiterated a "buy" rating and issued a $7.00 price objective on shares of Redwood Trust in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.31.
Read Our Latest Report on RWT
Redwood Trust Price Performance
NYSE RWT traded up $0.27 during trading hours on Thursday, reaching $5.73. 1,360,819 shares of the company's stock were exchanged, compared to its average volume of 1,037,122. The firm has a fifty day moving average of $5.80 and a 200-day moving average of $5.99. Redwood Trust has a one year low of $4.68 and a one year high of $8.15. The stock has a market cap of $762.11 million, a PE ratio of -8.95 and a beta of 1.31. The company has a current ratio of 39.35, a quick ratio of 39.35 and a debt-to-equity ratio of 18.74.
Redwood Trust (NYSE:RWT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Redwood Trust had a positive return on equity of 8.57% and a negative net margin of 9.26%. The business had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. On average, equities research analysts predict that Redwood Trust will post 0.78 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Redwood Trust
Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Redwood Trust by 3.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust's stock valued at $360,000 after acquiring an additional 1,767 shares during the last quarter. Northern Trust Corp grew its holdings in Redwood Trust by 14.4% during the fourth quarter. Northern Trust Corp now owns 1,569,301 shares of the real estate investment trust's stock valued at $10,248,000 after purchasing an additional 197,719 shares during the period. New York State Teachers Retirement System increased its stake in Redwood Trust by 1.5% in the first quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust's stock valued at $925,000 after purchasing an additional 2,326 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Redwood Trust by 33.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 388,768 shares of the real estate investment trust's stock worth $2,539,000 after purchasing an additional 97,205 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Redwood Trust by 2.9% during the first quarter. Principal Financial Group Inc. now owns 659,909 shares of the real estate investment trust's stock worth $4,006,000 after purchasing an additional 18,499 shares in the last quarter. Institutional investors and hedge funds own 74.34% of the company's stock.
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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