Piper Sandler Has Lowered Expectations for Redwood Trust (NYSE:RWT) Stock Price

Redwood Trust (NYSE:RWT) had its target price cut by equities researchers at Piper Sandler from $6.50 to $5.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target points to a potential upside of 17.90% from the stock’s current price.

A number of other analysts have also recently commented on the stock. JonesTrading restated a “buy” rating and issued a $6.25 price objective on shares of Redwood Trust in a research report on Thursday, April 30th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research lowered their price target on Redwood Trust from $8.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Zacks Research downgraded Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.39.

Redwood Trust Trading Down 1.6%

RWT opened at $4.67 on Thursday. The firm’s fifty day moving average is $5.28 and its two-hundred day moving average is $5.61. The firm has a market cap of $584.13 million, a PE ratio of -5.98 and a beta of 1.37. Redwood Trust has a twelve month low of $4.65 and a twelve month high of $6.97. The company has a debt-to-equity ratio of 28.42, a quick ratio of 59.63 and a current ratio of 59.63.

Hedge Funds Weigh In On Redwood Trust

A number of large investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised its stake in shares of Redwood Trust by 192.5% in the 4th 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. grew its holdings in shares of Redwood Trust by 331.8% during the second quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 6,082 shares in the last quarter. Westbourne Investments Inc. acquired a new stake in Redwood Trust in the 4th quarter valued at approximately $55,000. Bank of Marin acquired a new stake in Redwood Trust in the 4th quarter valued at approximately $58,000. Finally, Abel Hall LLC bought a new stake in Redwood Trust in the 4th 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.