Redwood Trust upgraded to Outperform from Market Perform at JMP Securities » 06:1610/2310/23/20
JMP Securities analyst…
JMP Securities analyst Steven Delaney upgraded Redwood Trust to Outperform from Market Perform with a $9.50 price target ahead of its Q3 results next week. The analyst is positive on the impact of the strong housing market, improved RMBS new issue markets and warehouse financing.
|Over a month ago|
Redwood Trust participates in a conference call with Redwood Trust » 10:0909/2409/24/20
US Commercial &…
US Commercial & Residential Equity Research Head Hill hosts President Robinson, CEO Abate, CFO Cochrane, SVP Hartman of Redwood Trust and CEO O'Brien of CoreVest who will provide an update on residential and business purpose lending on a conference call to be held on September 24 at 11 am.
Redwood Trust raises quarterly dividend 12% to 14c from 12.5c per share » 09:0209/1109/11/20
The third quarter…
The third quarter dividend is payable on September 29 to stockholders of record on September 22.
Redwood Trust upgraded to Strong Buy from Outperform at Raymond James » 07:5008/1108/11/20
Raymond James analyst…
Raymond James analyst Stephen Laws upgraded Redwood Trust to Strong Buy from Outperform with a price target of $10, up from $8. Laws expects recovering asset values to drive BV higher and expect new investments to be accretive to existing portfolio returns. The analyst feels Redwood is positioned to make new investments that will be accretive to current portfolio returns.
Redwood Trust upgraded to Strong Buy from Outperform at Raymond James » 07:0208/1108/11/20
Raymond James upgraded…
Raymond James upgraded Redwood Trust to Strong Buy from Outperform.
|Over a quarter ago|
Redwood Trust reports Q2 EPS ,$1.00 consensus 23c » 16:4707/3007/30/20
GAAP book value per share…
GAAP book value per share was $8.15 at quarter end vs. $6.32 at previous quarter end. "We are pleased with the progress we made in Q2. We executed our liquidity plan, strengthened our balance sheet, and materially reduced our use of marginable debt without raising dilutive outside capital. While the true impact from COVID-19 to the U.S. economy and mortgage industry is yet to be seen, we've taken great care to position our workforce, our balance sheet, and our business lines in what we believe is the best possible way to navigate the ongoing pandemic and emerge stronger in the marketplace. As a result of the actions taken, we entered the third quarter in a unique position, with significant capital to invest in our operating businesses and otherwise opportunistically deploy," said CEO Chris Abate.
Redwood Trust price target raised to $7.50 from $5.50 at Piper Sandler » 06:1006/2606/26/20
Piper Sandler analyst…
Piper Sandler analyst Kevin Barker raised the firm's price target on Redwood Trust to $7.50 from $5.50 and keeps a Neutral rating on the shares. The analyst believes Redwood's book value "could jump significantly" in Q2 with a "significant spread tightening" in nearly all the securities the company has on balance sheet. This rally has made the analyst "incrementally more positive" on the stock and he expects the market to continue to support the stock into the Q2 earnings.
Home leasing companies weather virus amid hope for suburban renters, WSJ says » 14:3405/1105/11/20
INVH, AMH, RWT
Ryan Dezember of the Wall…
Ryan Dezember of the Wall Street Journal wrote on Monday that "mega landlords are benefiting from the coronavirus pandemic. "Companies that emerged from last decade's foreclosure crisis owning huge pools of rental houses" or mega landlords' are doing better in the COVID-19 pandemic better than originally feared, noted the WSJ story. "Many also expect that the coronavirus pandemic will make suburban single-family homes both more desirable and more difficult to buy for even the relatively well-heeled," added the story. Companies mentioned in the Wall Street Journal story include, Invitation Homes (INVH), American Homes 4 Rent (AMH) and Redwood Trust (RWT). Reference Link
Redwood Trust falls -6.8% » 09:4705/0805/08/20
Redwood Trust is down…
Redwood Trust is down -6.8%, or -29c to $3.98.
Redwood Trust reports Q1EPS ($8.28) vs. 49c a year ago » 17:5305/0705/07/20
Book value per common…
Book value per common share was $6.32 at March 31, 2020; includes a (78c) per share impact from the impairment of intangible assets.