Keefe, Bruyette & Woods Downgrades Redwood Trust (RWT) to Market Perform; Valuation Call

Keefe, Bruyette & Woods downgraded Redwood Trust (NYSE: RWT) to Market Perform with a price target of $12.50.

KBW analyst says, "The move is based on valuation as the shares are up 15.4% in January. We continue to believe that RWT has strong investment opportunities and we expect the pace of capital deployment to remain strong in 2012. Additionally, the shares are still below GAAP BV which we believe should limit the downside risk in the name."

For an analyst ratings summary and ratings history on Redwood Trust click here. For more ratings news on Redwood Trust click here.

Shares of Redwood Trust closed at $11.75 yesterday.

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