Redwood Trust (RWT) was Upgraded by Nomura to ” Buy” and the brokerage firm has set the Price Target at $16. Earlier the firm had a rating of “Neutral ” on the company shares. Nomura advised their investors in a research report released on May 18, 2016.
Many Wall Street Analysts have commented on Redwood Trust. Shares were Reiterated by Deutsche Bank on Mar 14, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $20 .Shares were Reiterated by Maxim Group on Feb 29, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $20 .
On the company’s financial health, Redwood Trust reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.31. The company had revenue of $38.00 million for the quarter, compared to analysts expectations of $40.43 million. The company’s revenue was down -5.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.
Redwood Trust opened for trading at $13.27 and hit $13.58 on the upside on Monday, eventually ending the session at $13.47, with a gain of 1.20% or 0.16 points. The heightened volatility saw the trading volume jump to 3,56,341 shares. Company has a market cap of $1,037 M.
In a different news, on May 17, 2016, Mariann H Byerwalter (director) sold 9,759 shares at $13.27 per share price. According to the SEC, on May 3, 2016, Christopher J Abate (CFO, Executive Vice President) sold 7,622 shares at $12.79 per share price. On May 3, 2016, Richard Baum (director) sold 3,903 shares at $12.79 per share price, according to the Form-4 filing with the securities and exchange commission.
Redwood Trust Inc. (Redwood) is a real estate investment trust (REIT). The company focuses on investing in mortgage and other real estate-related assets. The Company is engaged in residential and commercial mortgage banking activities. It invests in real estate-related assets that generate income through the Company’s residential and commercial mortgage banking activities. It operates in three segments: residential mortgage banking residential investments and commercial mortgage banking and investments. Its residential mortgage banking segment consists of operating a mortgage loan conduit that acquires residential whole loans from third-party originators for sale securitization or transfer to its investment portfolio. Its residential investments segment includes investments in residential mortgage-backed securities. Its commercial mortgage banking and investments segment consists of commercial mortgage banking operations and its portfolio of commercial real estate loans.