Redwood Trust, Inc. RWT shares are trading higher on Tuesday, after Raymond James maintained an Outperform rating on the stock and raised its target price from $5.50 to $7.
Redwood Trust is a real estate investment trust that focuses on residential mortgage loans and mortgage-backed securities. The company operates through two segments: Mortgage Banking and Investment Portfolio. The investments in residential mortgage loans are generally made through a Sequoia securitization entity or the sale of the loans to third parties.
Redwood Trust shares were trading up 7.66% at $5.48 on Tuesday. The stock has a 52-week high of $18.01 and a 52-week low of $2.14.
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