Redwood Trust (NYSE:RWT – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.
Several other equities analysts have also recently weighed in on RWT. JPMorgan Chase & Co. cut their price objective on Redwood Trust from $6.50 to $6.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Citizens Jmp lowered their target price on Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 8th. JonesTrading reaffirmed a “buy” rating and issued a $6.25 price target on shares of Redwood Trust in a research report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, June 24th. Finally, Wall Street Zen raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Redwood Trust currently has an average rating of “Hold” and a consensus target price of $6.11.
Redwood Trust Stock Up 1.1%
Institutional Investors Weigh In On Redwood Trust
A number of institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its position in shares of Redwood Trust by 521.1% during the fourth quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock valued at $21,430,000 after purchasing an additional 3,251,302 shares during the period. Wellington Management Group LLP lifted its position in Redwood Trust by 10.2% in the third quarter. Wellington Management Group LLP now owns 15,020,483 shares of the real estate investment trust’s stock worth $86,969,000 after purchasing an additional 1,395,675 shares during the period. Evergreen Capital Management LLC boosted its stake in Redwood Trust by 52.8% during the fourth quarter. Evergreen Capital Management LLC now owns 1,674,009 shares of the real estate investment trust’s stock worth $9,257,000 after buying an additional 578,301 shares in the last quarter. Tran Capital Management L.P. acquired a new stake in Redwood Trust during the fourth quarter worth $2,947,000. Finally, Invesco Ltd. boosted its stake in Redwood Trust by 25.4% during the fourth quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust’s stock worth $14,107,000 after buying an additional 516,630 shares in the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.
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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