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Raymond James has decided to maintain its Strong Buy rating of Redwood Trust (NYSE:RWT) and lower its price target from $10.00 to $9.00.
Shares of Redwood Trust are trading up 2.04% over the last 24 hours, at $6.99 per share.
A move to $9.00 would account for a 28.77% increase from the current share price.
Redwood Trust Inc is a real estate investment trust focused on different areas of housing credit. The company operates in three segments: the Residential Mortgage Banking segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale to whole loan buyers, securitization through SEMT (Sequoia) private-label securitization program, or transfer into its investment portfolio, Business Purpose Mortgage Banking segment consists of a platform that originates and acquires business purpose lending (BPL) loans for subsequent securitization, sale, or transfers into its investment portfolio, and Investment Portfolio segment consists of organic investments sourced through residential and business-purpose mortgage banking operations.
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Posted In: RWT
