Keefe Bruyette & Woods Lowers EPS Estimate From $1.20 To $0.97 And Maintain An Outperform Rating On RWT

In a recent report, Keefe, Bruyette & Woods has lowered the EPS Estimate on Redwood Trust RWT from $1.20 to $0.97 and has reiterated an Outperform rating on the company. In the report, Keefe, Bruyette & Woods said, "Operating trends were in line. Economic book value increased to $14.45 from $14.31. We are cutting our EPS estimates to incorporate a longer timeline to a pickup in securitization activity." The price target of RWT remains at $17.00. RWT closed Friday at $15.34.