Redwood Trust (NYSE:RWT) Price Target Cut to $6.00 by Analysts at BTIG Research

Redwood Trust (NYSE:RWT) had its price target reduced by investment analysts at BTIG Research from $8.50 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price target points to a potential upside of 13.31% from the company’s previous close.

A number of other analysts have also commented on RWT. Citigroup reiterated a “market perform” rating on shares of Redwood Trust in a research report on Wednesday, February 18th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler lifted their price objective on Redwood Trust from $6.00 to $6.50 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Zacks Research lowered Redwood Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Redwood Trust presently has an average rating of “Hold” and a consensus price target of $6.54.

Redwood Trust Price Performance

Shares of RWT stock opened at $5.30 on Wednesday. The stock has a 50-day moving average price of $5.50 and a 200 day moving average price of $5.66. The company has a quick ratio of 59.63, a current ratio of 59.63 and a debt-to-equity ratio of 28.42. The firm has a market cap of $663.02 million, a price-to-earnings ratio of -6.79 and a beta of 1.37. Redwood Trust has a 12 month low of $5.00 and a 12 month high of $6.97.

Hedge Funds Weigh In On Redwood Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Vident Advisory LLC lifted its stake in Redwood Trust by 4.7% in the 4th quarter. Vident Advisory LLC now owns 39,606 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 1,773 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Redwood Trust by 18.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,113 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 2,363 shares in the last quarter. Inceptionr LLC lifted its stake in Redwood Trust by 10.7% in the 3rd quarter. Inceptionr LLC now owns 26,377 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 2,560 shares in the last quarter. Rhumbline Advisers lifted its stake in Redwood Trust by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 392,058 shares of the real estate investment trust’s stock valued at $2,270,000 after acquiring an additional 3,147 shares in the last quarter. Finally, Choreo LLC lifted its stake in Redwood Trust by 29.4% in the 4th quarter. Choreo LLC now owns 13,893 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 3,158 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.