Redwood Trust, Inc. (NYSE:RWT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans. “
RWT has been the subject of several other reports. BidaskClub raised Redwood Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine cut Redwood Trust from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st.
Shares of Redwood Trust (RWT) opened at 16.62 on Tuesday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 9.71 and a beta of 0.87. The stock’s 50 day moving average price is $16.41 and its 200 day moving average price is $16.80. Redwood Trust has a one year low of $13.57 and a one year high of $17.45.
Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $60.00 million for the quarter, compared to analyst estimates of $33.59 million. Redwood Trust had a return on equity of 12.02% and a net margin of 46.04%. During the same period in the prior year, the company earned $0.48 earnings per share. Analysts expect that Redwood Trust will post $1.49 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of RWT. SG Americas Securities LLC acquired a new position in Redwood Trust during the first quarter valued at approximately $107,000. Ameritas Investment Partners Inc. acquired a new position in Redwood Trust during the first quarter valued at approximately $109,000. Public Employees Retirement System of Ohio boosted its position in Redwood Trust by 1.6% during the second quarter. Public Employees Retirement System of Ohio now owns 7,003 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 113 shares during the last quarter. Comerica Bank boosted its position in Redwood Trust by 0.8% during the first quarter. Comerica Bank now owns 11,286 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 95 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Redwood Trust during the second quarter valued at approximately $232,000. 84.65% of the stock is owned by hedge funds and other institutional investors.
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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