Redwood Trust, Inc. (NYSE:RWT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Friday.
According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “
Other analysts have also recently issued research reports about the company. ValuEngine cut Redwood Trust from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Redwood Trust from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Deutsche Bank AG reduced their price target on Redwood Trust from $18.50 to $17.00 and set a “buy” rating for the company in a research report on Wednesday.
Shares of Redwood Trust (NYSE RWT) traded down $0.21 on Friday, reaching $14.73. The company’s stock had a trading volume of 594,200 shares, compared to its average volume of 334,970. The company has a debt-to-equity ratio of 2.91, a quick ratio of 3.01 and a current ratio of 3.36. The stock has a market capitalization of $1,135.90, a PE ratio of 10.60 and a beta of 0.92. Redwood Trust has a fifty-two week low of $14.43 and a fifty-two week high of $17.45.
Redwood Trust (NYSE:RWT) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The company had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $36.86 million. Redwood Trust had a return on equity of 9.87% and a net margin of 41.62%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. equities research analysts forecast that Redwood Trust will post 1.39 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. grew its position in shares of Redwood Trust by 0.3% during the second quarter. North Star Investment Management Corp. now owns 28,770 shares of the real estate investment trust’s stock worth $490,000 after purchasing an additional 80 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Redwood Trust by 1.6% during the second quarter. Public Employees Retirement System of Ohio now owns 7,003 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 113 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Redwood Trust by 0.3% during the second quarter. UBS Asset Management Americas Inc. now owns 39,228 shares of the real estate investment trust’s stock worth $668,000 after purchasing an additional 116 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Redwood Trust by 3.7% during the second quarter. Advisory Services Network LLC now owns 14,154 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 510 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Redwood Trust by 0.4% during the first quarter. AQR Capital Management LLC now owns 129,379 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.
Redwood Trust Company Profile
Redwood Trust, Inc, through its subsidiaries, focuses on investing in mortgage and other real estate related assets. The Company is engaged in mortgage banking activities. The Company operates through three segments: Residential Investments, Residential Mortgage Banking and Commercial. The Residential Investments segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations.
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