Redwood Trust (RWT) was Downgraded by Keefe Bruyette to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Keefe Bruyette advised their investors in a research report released on Jul 19, 2016.
Many Wall Street Analysts have commented on Redwood Trust. Nomura Upgraded Redwood Trust on May 18, 2016 to ” Buy”, Price Target of the shares are set at $16.
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 $14.31 and hit $14.485 on the upside on Monday, eventually ending the session at $14.45, with a gain of 0.77% or 0.11 points. The heightened volatility saw the trading volume jump to 2,22,714 shares. Company has a market cap of $1,112 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.