Redwood Trust (NYSE:RWT) Rating Lowered to “Sell” at Wall Street Zen

Redwood Trust (NYSE:RWT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Monday.

RWT has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 target price on the stock in a report on Friday, January 23rd. Citigroup reissued a “market perform” rating on shares of Redwood Trust in a report on Wednesday, February 18th. Keefe, Bruyette & Woods raised their target price on shares of Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a report on Wednesday, February 18th. Finally, JonesTrading reissued a “buy” rating and issued a $6.25 target price on shares of Redwood Trust in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Redwood Trust presently has an average rating of “Moderate Buy” and a consensus price target of $6.82.

Redwood Trust Stock Performance

Shares of RWT stock opened at $5.70 on Monday. The company has a debt-to-equity ratio of 24.34, a quick ratio of 55.15 and a current ratio of 55.15. Redwood Trust has a one year low of $4.68 and a one year high of $6.97. The company’s 50-day simple moving average is $5.84 and its 200-day simple moving average is $5.66. The stock has a market capitalization of $711.88 million, a price-to-earnings ratio of -9.34 and a beta of 1.52.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). Redwood Trust had a positive return on equity of 12.00% and a negative net margin of 5.93%.The company had revenue of $140.33 million for the quarter, compared to the consensus estimate of $24.88 million. Equities analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwood Trust

Large investors have recently bought and sold shares of the business. Clearstead Advisors LLC increased its stake in shares of Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 3,572 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Redwood Trust by 331.8% in the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 6,082 shares during the period. CWM LLC increased its stake in shares of Redwood Trust by 54.2% in the third quarter. CWM LLC now owns 9,514 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,346 shares during the period. Westbourne Investments Inc. acquired a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $55,000. Finally, Bank of Marin acquired a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $58,000. Institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

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.