Redwood Trust (NYSE:RWT – Get Free Report) had its price objective cut by research analysts at Citizens Jmp from $7.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective would suggest a potential upside of 27.25% from the stock’s previous close.
A number of other analysts have also recently commented on the stock. Piper Sandler cut their price target on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. JonesTrading reissued a “buy” rating and issued a $6.25 price objective on shares of Redwood Trust in a research note on Thursday, April 30th. Weiss Ratings restated a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, June 24th. BTIG Research lowered their target price on Redwood Trust from $8.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Finally, Zacks Research downgraded shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.25.
View Our Latest Research Report on RWT
Redwood Trust Stock Up 3.6%
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Vident Advisory LLC raised its holdings in shares of Redwood Trust by 4.7% in the 4th quarter. Vident Advisory LLC now owns 39,606 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 1,773 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Redwood Trust by 18.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,113 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 2,363 shares in the last quarter. Inceptionr LLC lifted its position in shares of Redwood Trust by 10.7% during the 3rd quarter. Inceptionr LLC now owns 26,377 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 2,560 shares in the last quarter. Choreo LLC grew its stake in Redwood Trust by 29.4% in the 4th quarter. Choreo LLC now owns 13,893 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 3,158 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in Redwood Trust by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 3,572 shares during the last quarter. 74.34% of the stock is owned by institutional investors.
Redwood Trust Company Profile
Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.
The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.
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