Redwood Trust, Inc. (RWT) Lowered to Hold at BidaskClub
BidaskClub lowered shares of Redwood Trust, Inc. (NYSE:RWT) from a buy rating to a hold rating in a research report report published on Friday.
Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Redwood Trust from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Tuesday, May 9th. ValuEngine lowered shares of Redwood Trust from a strong-buy rating to a buy rating in a research report on Friday, June 2nd.
Shares of Redwood Trust (NYSE:RWT) traded up 0.69% on Friday, reaching $17.39. The company had a trading volume of 38,275 shares. Redwood Trust has a one year low of $13.22 and a one year high of $17.43. The company’s 50-day moving average is $17.12 and its 200-day moving average is $16.65. The company has a market capitalization of $1.34 billion, a PE ratio of 9.89 and a beta of 0.89.
Redwood Trust (NYSE:RWT) last announced its earnings results on Thursday, May 4th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Redwood Trust had a net margin of 48.45% and a return on equity of 13.22%. The company had revenue of $62 million during the quarter, compared to analyst estimates of $34.89 million. During the same period in the previous year, the business earned $0.28 earnings per share. Equities research analysts predict that Redwood Trust will post $1.49 earnings per share for the current year.
In other Redwood Trust news, Director Karen R. Pallotta purchased 3,027 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $16.53 per share, for a total transaction of $50,036.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.33% of the company’s stock.
A number of hedge funds have recently bought and sold shares of RWT. Norges Bank acquired a new position in shares of Redwood Trust during the fourth quarter valued at approximately $11,939,000. First Trust Advisors LP increased its position in shares of Redwood Trust by 1,457.8% in the first quarter. First Trust Advisors LP now owns 480,693 shares of the real estate investment trust’s stock valued at $7,984,000 after buying an additional 449,836 shares in the last quarter. IronBridge Capital Management LP increased its position in shares of Redwood Trust by 105.7% in the first quarter. IronBridge Capital Management LP now owns 718,273 shares of the real estate investment trust’s stock valued at $11,931,000 after buying an additional 369,068 shares in the last quarter. UBS Group AG increased its position in shares of Redwood Trust by 33.8% in the first quarter. UBS Group AG now owns 1,062,183 shares of the real estate investment trust’s stock valued at $17,643,000 after buying an additional 268,238 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Redwood Trust by 3.8% in the first quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock valued at $102,414,000 after buying an additional 224,548 shares in the last quarter. Institutional investors and hedge funds own 85.04% 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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