JMP Securities Reiterates Market Outperform Rating for Redwood Trust (NYSE:RWT)

JMP Securities reiterated their market outperform rating on shares of Redwood Trust (NYSE:RWT) in a research report sent to investors on Friday morning,Benzinga reports. JMP Securities currently has a $8.00 target price on the real estate investment trust’s stock.

Several other brokerages have also weighed in on RWT. JPMorgan Chase & Co. decreased their price objective on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Tuesday, January 21st. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.84.

Redwood Trust Trading Down 1.5 %

Shares of Redwood Trust stock opened at $6.37 on Friday. Redwood Trust has a 1 year low of $5.45 and a 1 year high of $8.15. The firm has a market cap of $843.49 million, a PE ratio of 11.57 and a beta of 1.57. The stock has a fifty day moving average price of $6.58 and a 200-day moving average price of $7.10. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36.

Redwood Trust (NYSE:RWT) last announced its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Redwood Trust had a return on equity of 6.01% and a net margin of 9.35%. Equities research analysts anticipate that Redwood Trust will post 0.55 EPS for the current year.

Redwood Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.72 annualized dividend and a yield of 11.31%. This is an increase from Redwood Trust’s previous quarterly dividend of $0.17. Redwood Trust’s dividend payout ratio (DPR) is currently 130.91%.

Institutional Trading of Redwood Trust

A number of large investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in shares of Redwood Trust by 7.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,909 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 1,932 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Redwood Trust by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 2,043 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Redwood Trust by 3.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 72,744 shares of the real estate investment trust’s stock valued at $475,000 after acquiring an additional 2,383 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Redwood Trust by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 3,206 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Redwood Trust by 18.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,725 shares of the real estate investment trust’s stock valued at $230,000 after acquiring an additional 4,527 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.

About Redwood Trust

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.