Redwood Trust (NYSE:RWT) Given “Neutral” Rating at Wedbush

Redwood Trust (NYSE:RWT)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a report released on Wednesday, Benzinga reports. They presently have a $6.50 price target on the real estate investment trust’s stock. Wedbush’s price target points to a potential upside of 17.54% from the company’s current price.

RWT has been the subject of a number of other reports. UBS Group dropped their price objective on Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Wells Fargo & Company dropped their price objective on Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 price objective on shares of Redwood Trust in a research note on Thursday, April 18th. Raymond James dropped their price objective on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. Finally, Piper Sandler lowered their target price on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.66.

Redwood Trust Price Performance

RWT stock opened at $5.53 on Wednesday. Redwood Trust has a 52-week low of $5.45 and a 52-week high of $8.30. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The business has a fifty day moving average of $6.02 and a two-hundred day moving average of $6.62. The stock has a market cap of $727.64 million, a price-to-earnings ratio of -46.08 and a beta of 1.48.

Institutional Trading of Redwood Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Redwood Trust by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock valued at $96,134,000 after acquiring an additional 78,222 shares during the last quarter. Wellington Management Group LLP increased its position in Redwood Trust by 164.4% during the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock worth $83,842,000 after purchasing an additional 7,035,524 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Redwood Trust by 15.6% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust’s stock worth $26,932,000 after purchasing an additional 509,536 shares during the period. Charles Schwab Investment Management Inc. increased its position in Redwood Trust by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,260 shares of the real estate investment trust’s stock worth $13,325,000 after purchasing an additional 127,435 shares during the period. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in Redwood Trust during the 4th quarter worth approximately $13,246,000. 74.34% of the stock is owned by hedge funds and other institutional investors.

Redwood Trust Company Profile

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.