In a report issued on October 16, Stephen Laws from Raymond James reiterated a Buy rating on Redwood (RWT). The company’s shares closed last Thursday at $8.91.
According to TipRanks.com, Laws is a 5-star analyst with an average return of 11.7% and a 68.1% success rate. Laws covers the Financial sector, focusing on stocks such as NexPoint Real Estate ate Finance, Colony Credit Real Estate, and Broadmark Realty Capital.
Currently, the analyst consensus on Redwood is a Strong Buy with an average price target of $9.90, which is a 11.0% upside from current levels. In a report issued on October 23, JMP Securities also upgraded the stock to Buy with a $9.50 price target.
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Redwood’s market cap is currently $1.03B and has a P/E ratio of -1.50. The company has a Price to Book ratio of 1.00.
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Redwood Trust, Inc. engages in the business of investing in mortgages and other real estate-related assets. It operates through the following segments: Investment Portfolio and Mortgage Banking. The Investment Portfolio segment includes a portfolio of investments in residential mortgage-backed securities (RMBS) retained from its Sequoia securitizations, as well as RMBS issued by third parties and other credit risk-related investments. The Mortgage Banking segment consists of operating a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio. The company was founded by George E. Bull III, Douglas B. Hansen and Frederick H. Borden on April 11, 1994 and is headquartered in Mill Valley, CA.
