Redwood Trust (NYSE:RWT) Price Target Cut to $6.00 by Analysts at BTIG Research

Redwood Trust (NYSE:RWT) had its target price decreased by equities researchers at BTIG Research from $8.50 to $6.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s target price points to a potential upside of 13.31% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Zacks Research cut Redwood Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Keefe, Bruyette & Woods upped their price objective on Redwood Trust from $5.75 to $7.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 18th. Piper Sandler upped their price objective on Redwood Trust from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Citigroup reiterated a “market perform” rating on shares of Redwood Trust in a research note on Wednesday, February 18th. Finally, JonesTrading reiterated a “buy” rating and issued a $6.25 target price on shares of Redwood Trust in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.54.

Redwood Trust Trading Up 1.2%

NYSE RWT opened at $5.30 on Wednesday. The stock has a market capitalization of $663.02 million, a price-to-earnings ratio of -6.79 and a beta of 1.37. The stock’s 50 day moving average price is $5.50 and its two-hundred day moving average price is $5.66. The company has a debt-to-equity ratio of 28.42, a quick ratio of 59.63 and a current ratio of 59.63. Redwood Trust has a 52 week low of $5.00 and a 52 week high of $6.97.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RWT. Clearstead Advisors LLC increased its position in Redwood Trust by 192.5% during the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 3,572 shares during the period. Russell Investments Group Ltd. increased its position in Redwood Trust by 331.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 6,082 shares during the period. Westbourne Investments Inc. bought a new position in Redwood Trust during the 4th quarter worth $55,000. Bank of Marin bought a new position in Redwood Trust during the 4th quarter worth $58,000. Finally, Abel Hall LLC bought a new position in Redwood Trust during the 4th quarter worth $58,000. Institutional investors own 74.34% of the company’s stock.

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.