Nomura Securities Downgrades Redwood Trust (RWT) to Neutral

Nomura Securities downgraded Redwood Trust (NYSE: RWT) from Buy to Neutral with a price target of $15.00 (from $17.00).

Analyst Brock Vandervliet commented, "We are downgrading the stock, although following a large underperformance and while undeniably “cheap” relative to historical valuations, the business environment for RWT has changed. We no longer see a clear path toward the superior returns and premium valuation the stock enjoyed in the past."

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 $13.53 yesterday.

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