Redwood Trust (NYSE:RWT) had its price target hoisted by equities research analysts at Deutsche Bank to $17.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Deutsche Bank’s target price points to a potential upside of 4.36% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Redwood Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine cut shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.00.
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NYSE RWT opened at $16.29 on Tuesday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $1.19 billion, a PE ratio of 11.68 and a beta of 0.62. Redwood Trust has a 12 month low of $16.18 and a 12 month high of $16.40.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings results on Monday, May 7th. The real estate investment trust reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.25. The firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $35.97 million. Redwood Trust had a net margin of 40.32% and a return on equity of 12.25%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. equities research analysts anticipate that Redwood Trust will post 1.44 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of RWT. Schwab Charles Investment Management Inc. grew its holdings in shares of Redwood Trust by 3.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 576,275 shares of the real estate investment trust’s stock worth $8,541,000 after purchasing an additional 16,872 shares during the last quarter. Eqis Capital Management Inc. grew its holdings in Redwood Trust by 29.8% during the 4th quarter. Eqis Capital Management Inc. now owns 23,316 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 5,357 shares in the last quarter. Telemus Capital LLC bought a new position in Redwood Trust during the 4th quarter worth about $710,000. Teacher Retirement System of Texas bought a new position in Redwood Trust during the 4th quarter worth about $392,000. Finally, California Public Employees Retirement System grew its holdings in Redwood Trust by 13.0% during the 4th quarter. California Public Employees Retirement System now owns 244,813 shares of the real estate investment trust’s stock worth $3,628,000 after acquiring an additional 28,087 shares in the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.
Redwood Trust Company Profile
Redwood Trust, Inc, together with its subsidiaries, engages in mortgage banking activities in the United States. The company operates through two segments, Investment Portfolio and Residential Mortgage Banking. The Investment Portfolio segment offers a portfolio of investments in residential mortgage-backed securities retained from Sequoia securitizations, and issued by third parties and other credit risk-related investments; and invests in residential loans held for investment and mortgage servicing rights associated with residential loans.