Redwood Trust’s (RWT) “Market Outperform” Rating Reaffirmed at JMP Securities

Redwood Trust (NYSE:RWT)‘s stock had its “market outperform” rating reiterated by JMP Securities in a note issued to investors on Thursday, Benzinga reports. They currently have a $8.00 price target on the real estate investment trust’s stock. JMP Securities’ target price points to a potential upside of 42.35% from the stock’s current price.

RWT has been the subject of a number of other reports. UBS Group lowered their target price on shares of Redwood Trust from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Redwood Trust from $7.75 to $7.25 and set an “outperform” rating for the company in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on shares of Redwood Trust from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Raymond James lowered their price objective on shares of Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. Finally, Wedbush lowered shares of Redwood Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $6.50 in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.64.

Redwood Trust Trading Up 2.0 %

RWT stock traded up $0.11 during mid-day trading on Thursday, reaching $5.62. 393,922 shares of the stock traded hands, compared to its average volume of 1,476,172. The company has a debt-to-equity ratio of 10.12, a quick ratio of 7.36 and a current ratio of 7.36. Redwood Trust has a one year low of $5.45 and a one year high of $8.30. The stock has a market capitalization of $739.48 million, a PE ratio of -46.83 and a beta of 1.48. The business has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $6.71.

Hedge Funds Weigh In On Redwood Trust

A number of large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its holdings in shares of Redwood Trust by 122.8% during the fourth quarter. Quadrature Capital Ltd now owns 40,374 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 22,254 shares in the last quarter. Vanguard Group Inc. increased its holdings in Redwood Trust by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock worth $96,134,000 after buying an additional 78,222 shares during the period. Wellington Management Group LLP increased its holdings in Redwood Trust by 164.4% in the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock worth $83,842,000 after buying an additional 7,035,524 shares during the period. O Dell Group LLC acquired a new position in Redwood Trust in the 4th quarter worth approximately $44,000. Finally, Nuveen Asset Management LLC increased its holdings in Redwood Trust by 5.5% in the 4th quarter. Nuveen Asset Management LLC now owns 306,616 shares of the real estate investment trust’s stock worth $2,272,000 after buying an additional 16,069 shares during the period. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Company Profile

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Consumer Mortgage Banking, Residential Investor Mortgage Banking, and Investment Portfolio. The Residential Consumer Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio.