Redwood Trust (NYSE:RWT) PT Lowered to $10.50 at BTIG Research

Posted by on Jun 9th, 2022

Redwood Trust (NYSE:RWT – Get Rating) had its price target decreased by equities researchers at BTIG Research from $11.50 to $10.50 in a research note issued on Thursday, The Fly reports. BTIG Research’s target price would suggest a potential upside of 13.39% from the stock’s previous close.

RWT has been the subject of several other reports. JPMorgan Chase & Co. assumed coverage on shares of Redwood Trust in a research report on Friday, May 13th. They issued an “overweight” rating and a $11.50 price objective for the company. TheStreet cut shares of Redwood Trust from a “c” rating to a “d+” rating in a research report on Thursday, April 14th. Piper Sandler lowered their price objective on shares of Redwood Trust from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th. JMP Securities lowered their price objective on shares of Redwood Trust from $14.50 to $13.00 in a research report on Tuesday, April 26th. Finally, StockNews.com started coverage on shares of Redwood Trust in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.31.

Shares of NYSE:RWT opened at $9.26 on Thursday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 4.90 and a beta of 0.96. Redwood Trust has a 12 month low of $8.63 and a 12 month high of $14.17. The firm’s 50-day moving average is $9.73 and its 200 day moving average is $11.21. The company has a current ratio of 6.82, a quick ratio of 7.79 and a debt-to-equity ratio of 7.50.

Redwood Trust (NYSE:RWT – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Redwood Trust had a net margin of 39.78% and a return on equity of 12.87%. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, equities analysts forecast that Redwood Trust will post 1.25 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Redwood Trust by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 12,245,804 shares of the real estate investment trust’s stock valued at $128,948,000 after purchasing an additional 150,771 shares in the last quarter. State Street Corp increased its stake in Redwood Trust by 8.1% during the 1st quarter. State Street Corp now owns 4,129,943 shares of the real estate investment trust’s stock valued at $43,488,000 after purchasing an additional 308,880 shares in the last quarter. LSV Asset Management increased its stake in Redwood Trust by 57.2% during the 1st quarter. LSV Asset Management now owns 2,424,953 shares of the real estate investment trust’s stock valued at $25,535,000 after purchasing an additional 882,431 shares in the last quarter. Millennium Management LLC increased its stake in Redwood Trust by 30.9% during the 4th quarter. Millennium Management LLC now owns 2,251,254 shares of the real estate investment trust’s stock valued at $29,694,000 after purchasing an additional 531,464 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Redwood Trust by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,937,285 shares of the real estate investment trust’s stock valued at $25,552,000 after purchasing an additional 30,327 shares in the last quarter. 75.21% of the stock is owned by institutional investors.

About Redwood Trust (Get Rating)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.

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