Redwood Trust (NYSE:RWT) Downgraded by Keefe, Bruyette & Woods to "Market Perform"

Redwood Trust (NYSE:RWT - Get Free Report) was downgraded by research analysts at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research report issued on Thursday, Marketbeat reports. They currently have a $6.50 price objective on the real estate investment trust's stock, down from their previous price objective of $7.00. Keefe, Bruyette & Woods' price target points to a potential upside of 8.06% from the company's current price.

Several other research firms also recently commented on RWT. Jones Trading restated a "buy" rating and issued a $7.00 price target on shares of Redwood Trust in a research note on Friday, May 2nd. JMP Securities dropped their price objective on Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. UBS Group lifted their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Wall Street Zen raised Redwood Trust from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Redwood Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.39.

Redwood Trust Trading Down 0.1%

Shares of RWT traded down $0.01 during midday trading on Thursday, reaching $6.02. The company had a trading volume of 413,168 shares, compared to its average volume of 951,866. Redwood Trust has a 1-year low of $4.68 and a 1-year high of $8.15. The stock has a market cap of $800.72 million, a PE ratio of 27.34 and a beta of 1.30. The firm has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $6.05. The company has a quick ratio of 39.35, a current ratio of 39.35 and a debt-to-equity ratio of 16.32.

Redwood Trust (NYSE:RWT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). Redwood Trust had a net margin of 3.93% and a return on equity of 7.82%. The company had revenue of $73.80 million for the quarter, compared to analyst estimates of $26.55 million. Research analysts forecast that Redwood Trust will post 0.78 EPS for the current fiscal year.

Institutional Trading of Redwood Trust

Large investors have recently bought and sold shares of the company. Boston Partners raised its position in shares of Redwood Trust by 8.3% during the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust's stock worth $17,561,000 after purchasing an additional 206,698 shares during the last quarter. Invesco Ltd. raised its holdings in Redwood Trust by 150.9% in the fourth quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust's stock valued at $13,031,000 after buying an additional 1,200,050 shares during the period. Balyasny Asset Management L.P. raised its holdings in Redwood Trust by 19.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,994,294 shares of the real estate investment trust's stock valued at $13,023,000 after buying an additional 321,612 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Redwood Trust by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,835,003 shares of the real estate investment trust's stock valued at $11,138,000 after buying an additional 108,750 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Redwood Trust by 58.9% in the first quarter. LSV Asset Management now owns 1,772,345 shares of the real estate investment trust's stock valued at $10,758,000 after purchasing an additional 657,141 shares during the period. Institutional investors and hedge funds own 74.34% of the company's stock.

About Redwood Trust

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.