Credit Suisse Group raises Redwood Trust (NYSE: RWT) price target to $ 14.00
Redwood Trust (NYSE: RWT) saw its price target boosted by analysts at Credit Suisse Group from $ 13.00 to $ 14.00 in a research note released to investors on Monday, Benzinga reports. The company currently has an âoutperformanceâ rating on Real Estate Investment Trust shares. The Credit Suisse Group price target suggests a potential rise of 14.19% from the company’s current price.
RWT has been the subject of a number of other reports. Piper Sandler downgraded Redwood Trust from a ‘neutral’ to an ‘overweight’ rating and raised its price target for the share from $ 12.00 to $ 14.00 in a research report released on Monday, 19 July. JMP Securities raised its price target on Redwood Trust from $ 12.00 to $ 13.50 and gave the stock a “market outperformance” rating in a research report released Thursday, June 24. BTIG Research raised its target price on Redwood Trust from $ 12.50 to $ 13.50 and gave the company a “buy” rating in a research note on Tuesday, June 15. Raymond James raised his target price on Redwood Trust from $ 14.50 to $ 16.00 and gave the company a “strong buy” rating in a research note on Thursday, July 29. Finally, Zacks Investment Research downgraded Redwood Trust from a âholdâ rating to a âbuyâ rating and set a target price of $ 14.00 for the company in a research note on Wednesday, July 14. Seven investment analysts rated the stock with a buy rating and one gave the company a strong buy rating. According to MarketBeat data, the stock has a consensus rating of “Buy” and an average price target of $ 13.31.
RWT shares opened at $ 12.26 on Monday. The company has a market cap of $ 1.39 billion, a P / E ratio of 4.35 and a beta of 0.96. Redwood Trust has a fifty-two week low of $ 7.01 and a fifty-two week high of $ 12.71. The company’s 50-day mobile average price is $ 12.11, and its 200-day mobile average price is $ 11.34. The company has a debt to equity ratio of 6.97, a rapid ratio of 6.63 and a current ratio of 6.63.
A number of large investors have recently changed their positions in the company. Catalyst Capital Advisors LLC increased its stake in Redwood Trust shares by 45.2% in the first quarter. Catalyst Capital Advisors LLC now owns 3,500 real estate investment trust shares worth $ 36,000 after acquiring an additional 1,090 shares during the period. Rockefeller Capital Management LP increased its holdings of Redwood Trust shares by 461.7% in the second quarter. Rockefeller Capital Management LP now owns 4,072 Real Estate Investment Trust shares valued at $ 49,000 after acquiring an additional 3,347 shares during the period. Precision Wealth Strategies LLC purchased a new equity interest in Redwood Trust in the second quarter valued at $ 51,000. USA Financial Portformulas Corp purchased a new stake in Redwood Trust shares in the second quarter valued at $ 69,000. Finally, Macquarie Group Ltd. increased its holdings of Redwood Trust shares by 20.0% in the second quarter. Macquarie Group Ltd. now owns 6,061 real estate investment trust shares valued at $ 73,000 after acquiring an additional 1,011 shares during the period. Institutional investors and hedge funds hold 71.26% of the company’s shares.
About Redwood Trust
Redwood Trust, Inc. is a financial company that focuses on several distinct areas of mortgage lending. It operates through the following segments: residential loans, commercial loans, third-party investments and businesses. The Residential Loans segment consists of a mortgage conduit that acquires residential loans from third party originators with a view to their sale, securitization or subsequent transfer into the investment portfolio.
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