The stock of Redwood Trust, Inc. (NYSE:RWT) hit a new 52-week high and has $24.71 target or 62.00% above today’s $15.25 share price. The 8 months bullish chart indicates low risk for the $1.19B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $24.71 price target is reached, the company will be worth $737.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 231,156 shares traded hands. Redwood Trust, Inc. (NYSE:RWT) has risen 18.25% since April 19, 2016 and is uptrending. It has outperformed by 14.39% the S&P500.
Redwood Trust, Inc. (NYSE:RWT) Ratings Coverage
Out of 5 analysts covering Redwood Trust (NYSE:RWT), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Redwood Trust has been the topic of 8 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Nomura on Tuesday, November 24. The firm has “Buy” rating given on Monday, March 14 by Deutsche Bank. Wood downgraded it to “Market Perform” rating and $14.50 target price in Tuesday, July 19 report. The firm has “Buy” rating given on Wednesday, May 18 by Nomura. As per Monday, November 16, the company rating was maintained by Maxim Group.
According to Zacks Investment Research, “REDWOOD TRUST INC. is a self-advised and self-managed real estate investment trust. It specializes in acquiring and managing real estate mortgage assets which may be acquired as whole loans or as mortgage securities reperesenting interest in or obligations backed by pools of mortgage loans.”
Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.27, from 0.86 in 2016Q1. The ratio is positive, as 11 funds sold all Redwood Trust, Inc. shares owned while 60 reduced positions. 22 funds bought stakes while 39 increased positions. They now own 64.31 million shares or 2.86% less from 66.21 million shares in 2016Q1.
Ellington Group Ltd Company accumulated 10,700 shares or 0.21% of the stock. The California-based Assets Inv Mngmt Ltd Company has invested 0.07% in Redwood Trust, Inc. (NYSE:RWT). The Delaware-based Blackrock Advsrs Ltd Company has invested 0% in Redwood Trust, Inc. (NYSE:RWT). Moreover, California Public Employees Retirement Systems has 0.01% invested in Redwood Trust, Inc. (NYSE:RWT) for 250,700 shares. Virginia Retirement Et Al owns 22,600 shares or 0% of their US portfolio. Tiaa Cref Tru Fsb Mo owns 123,533 shares or 0.02% of their US portfolio. Tudor Invest Corporation Et Al accumulated 45,798 shares or 0.01% of the stock. Blackrock Fund has 0.01% invested in the company for 3.72M shares. Voya Mgmt Limited Liability Company last reported 0.03% of its portfolio in the stock. Van Eck Associate Corp holds 0.01% or 135,847 shares in its portfolio. Fifth Third Bancorporation accumulated 0% or 1,086 shares. Ubs Asset Management Americas last reported 52,397 shares in the company. Wellington Mngmt Ltd Liability Partnership holds 6.43 million shares or 0.02% of its portfolio. Pittenger & Anderson reported 375 shares or 0% of all its holdings. State Street, a Massachusetts-based fund reported 1.56M shares.
More notable recent Redwood Trust, Inc. (NYSE:RWT) news were published by: Prnewswire.com which released: “Redwood Trust Reports Third Quarter 2016 Results” on November 07, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Redwood Trust, Digital Realty Trust and United Community …” published on September 09, 2016, Prnewswire.com published: “Redwood Trust Announces Repositioning Of Its Commercial Loan Business” on February 09, 2016. More interesting news about Redwood Trust, Inc. (NYSE:RWT) were released by: Prnewswire.com and their article: “Redwood Trust Comments On 2016 Outlook And Announces Restructuring Of …” published on January 20, 2016 as well as Prnewswire.com‘s news article titled: “Redwood Trust Announces the Departure of Brett Nicholas” with publication date: March 28, 2016.
RWT Company Profile
Redwood Trust, Inc., incorporated on April 11, 1994, together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets. The Firm is engaging in mortgage banking activities. The Firm operates through three divisions: residential mortgage banking, residential investments, and commercial mortgage banking and investments. The Firm seeks to invest in real estate-related assets that have the potential to generate cash flow returns over time and to generate income through its residential and commercial mortgage banking activities. For tax purposes, the Company is structured as a real estate investment trust (REIT).
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