Keefe, Bruyette & Woods reiterated its Outperform rating on Redwood Trust, Inc. RWT today. KBW maintains a $19 Target Price on shares of Redwood Trust, Inc.
Redwood Trust reported second quarter EPS of $0.35 and operating EPS of $0.25. The difference between the numbers reflect gains on asset sales and mark-to-market adjustments, according to Keefe, Bruyette & Woods.
Keefe Bruyette & Woods raised FY10 EPS estimates "for the beat but [KBW analysts are leaving] quarterly estimates unchanged as operating trends were generally in-line."
Redwood Trust, Inc. is primarily an investor in high credit quality prime residential mortgage credit risk. Shares are down 2.5% today, to $14.68.
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