Redwood (RWT) Receives a Buy from Raymond James
In a report released yesterday, Stephen Laws from Raymond James reiterated a Buy rating on Redwood (RWT), with a price target of $10.00. The company’s shares closed last Tuesday at $7.68.
According to TipRanks.com, Laws is a 4-star analyst with an average return of 5.6% and a 59.4% success rate. Laws covers the Financial sector, focusing on stocks such as Colony Credit Real Estate, Kkr Real Estate Finance, and Granite Point Mortgage.
Redwood has an analyst consensus of Strong Buy, with a price target consensus of $8.13.
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The company has a one-year high of $18.01 and a one-year low of $2.14. Currently, Redwood has an average volume of 2.09M.
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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.