KBW analyst Bose George maintained a Buy rating on Redwood (RWT – Research Report) yesterday and set a price target of $7.75. The company’s shares closed last Friday at $6.16.
According to TipRanks, George is a top 100 analyst with an average return of 14.8% and a 72.49% success rate. George covers the Financial sector, focusing on stocks such as Fidelity National Financial, First American Financial, and PennyMac Financial.
In addition to KBW, Redwood also received a Buy from JMP Securities’s Steven Delaney in a report issued on February 21. However, on the same day, Piper Sandler reiterated a Hold rating on Redwood (NYSE: RWT).
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Based on Redwood’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.76 million and a GAAP net loss of $30.81 million. In comparison, last year the company had a GAAP net loss of $50.41 million
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Redwood (RWT) Company Description:
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.
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