Redwood Trust (RWT) Upgraded to “Outperform” by Keefe, Bruyette & Woods

Redwood Trust (NYSE:RWT) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Thursday.

RWT has been the subject of a number of other research reports. Zacks Investment Research lowered Redwood Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub lowered Redwood Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Deutsche Bank reduced their target price on Redwood Trust from $18.50 to $17.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, ValuEngine lowered Redwood Trust from a “buy” rating to a “hold” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Redwood Trust currently has an average rating of “Buy” and an average target price of $17.00.

Redwood Trust (NYSE RWT) traded down $0.31 during midday trading on Thursday, hitting $14.79. The stock had a trading volume of 957,700 shares, compared to its average volume of 346,644. The company has a market cap of $1,140.00, a PE ratio of 10.86 and a beta of 0.90. Redwood Trust has a 12 month low of $14.29 and a 12 month high of $17.45. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.91.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). Redwood Trust had a net margin of 41.62% and a return on equity of 9.87%. The firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $36.86 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. equities research analysts forecast that Redwood Trust will post 1.39 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Redwood Trust by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,303,530 shares of the real estate investment trust’s stock worth $107,412,000 after buying an additional 137,701 shares in the last quarter. State Street Corp raised its holdings in Redwood Trust by 6.2% in the second quarter. State Street Corp now owns 1,611,297 shares of the real estate investment trust’s stock worth $27,454,000 after purchasing an additional 93,613 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in Redwood Trust by 3.1% in the third quarter. Seizert Capital Partners LLC now owns 1,496,235 shares of the real estate investment trust’s stock worth $24,374,000 after purchasing an additional 45,651 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Redwood Trust by 1.8% in the second quarter. Renaissance Technologies LLC now owns 1,422,000 shares of the real estate investment trust’s stock worth $24,231,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Hilton Capital Management LLC raised its holdings in Redwood Trust by 1.4% in the second quarter. Hilton Capital Management LLC now owns 1,027,078 shares of the real estate investment trust’s stock worth $17,501,000 after purchasing an additional 13,970 shares in the last quarter. 85.39% of the stock is owned by institutional investors.

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About Redwood Trust

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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