Redwood Trust (NYSE:RWT) Price Target Cut to $5.50 by Analysts at Piper Sandler

Redwood Trust (NYSE:RWT) had its price target decreased by investment analysts at Piper Sandler from $6.50 to $5.50 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective suggests a potential upside of 17.90% from the company’s previous close.

Other analysts also recently issued research reports about the company. BTIG Research lowered their target price on Redwood Trust from $8.50 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. JonesTrading restated a “buy” rating and issued a $6.25 price target on shares of Redwood Trust in a research note 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.39.

Redwood Trust Stock Down 1.6%

Shares of RWT stock opened at $4.67 on Thursday. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42. Redwood Trust has a 1 year low of $4.65 and a 1 year high of $6.97. The firm’s fifty day moving average price is $5.28 and its two-hundred day moving average price is $5.61. The firm has a market capitalization of $584.13 million, a P/E ratio of -5.98 and a beta of 1.37.

Hedge Funds Weigh In On Redwood Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tran Capital Management L.P. acquired a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $2,947,000. Evergreen Capital Management LLC increased its holdings in shares of Redwood Trust by 52.8% during the 4th quarter. Evergreen Capital Management LLC now owns 1,674,009 shares of the real estate investment trust’s stock worth $9,257,000 after acquiring an additional 578,301 shares during the last quarter. UBS Group AG increased its holdings in shares of Redwood Trust by 521.1% during the 4th quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock worth $21,430,000 after acquiring an additional 3,251,302 shares during the last quarter. Amundi raised its stake in Redwood Trust by 35.3% in the 1st quarter. Amundi now owns 18,584 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 4,847 shares during the period. Finally, Quantinno Capital Management LP raised its stake in Redwood Trust by 22.7% in the 1st quarter. Quantinno Capital Management LP now owns 373,932 shares of the real estate investment trust’s stock valued at $2,098,000 after acquiring an additional 69,173 shares during the period. 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.