Redwood Trust, Inc. (RWT) Rating Lowered to Hold at ValuEngine

Redwood Trust, Inc. (NYSE:RWT) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts have also issued reports on RWT. BidaskClub lowered shares of Redwood Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Deutsche Bank AG decreased their price objective on shares of Redwood Trust from $18.50 to $17.00 and set a “buy” rating for the company in a report on Wednesday.

Redwood Trust (NYSE RWT) traded down $0.21 on Friday, reaching $14.73. 594,200 shares of the company traded hands, compared to its average volume of 334,970. The stock has a market capitalization of $1,135.90, a PE ratio of 10.60 and a beta of 0.92. Redwood Trust has a 52 week low of $14.43 and a 52 week high of $17.45. The company has a quick ratio of 3.01, a current ratio of 3.36 and a debt-to-equity ratio of 2.91.

Redwood Trust (NYSE:RWT) last released its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.35 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $35.00 million for the quarter, compared to the consensus estimate of $36.86 million. During the same quarter last year, the business earned $0.58 EPS. Redwood Trust’s revenue for the quarter was down 10.3% compared to the same quarter last year. analysts anticipate that Redwood Trust will post 1.39 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Redwood Trust by 11.9% in the second quarter. Russell Investments Group Ltd. now owns 83,059 shares of the real estate investment trust’s stock valued at $1,416,000 after purchasing an additional 8,816 shares during the last quarter. Vanguard Group Inc. increased its stake in Redwood Trust by 3.8% in the first quarter. Vanguard Group Inc. now owns 6,165,829 shares of the real estate investment trust’s stock valued at $102,414,000 after purchasing an additional 224,548 shares during the last quarter. TIAA FSB purchased a new position in Redwood Trust in the second quarter valued at approximately $3,346,000. Schwab Charles Investment Management Inc. increased its stake in Redwood Trust by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 530,383 shares of the real estate investment trust’s stock valued at $8,810,000 after purchasing an additional 40,825 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Redwood Trust by 44.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,219 shares of the real estate investment trust’s stock valued at $515,000 after purchasing an additional 9,270 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

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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