Redwood Trust (NYSE:RWT) Given “Market Outperform” Rating at JMP Securities

Redwood Trust (NYSE:RWT)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $8.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective indicates a potential upside of 25.69% from the company’s previous close.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Redwood Trust has a consensus rating of “Moderate Buy” and a consensus price target of $7.84.

Redwood Trust Stock Down 1.5 %

NYSE RWT opened at $6.37 on Friday. The stock’s 50-day moving average price is $6.56 and its 200-day moving average price is $7.09. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust has a 52 week low of $5.45 and a 52 week high of $8.15. The company has a market capitalization of $843.49 million, a P/E ratio of 11.57 and a beta of 1.57.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 EPS 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%. The company had revenue of $27.60 million during the quarter, compared to the consensus estimate of $26.00 million. On average, equities research analysts predict that Redwood Trust will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Redwood Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Redwood Trust by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust’s stock worth $112,945,000 after purchasing an additional 941,223 shares during the period. State Street Corp boosted its holdings in shares of Redwood Trust by 2.0% in the 3rd quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust’s stock worth $40,116,000 after purchasing an additional 102,274 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Redwood Trust by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust’s stock worth $23,492,000 after purchasing an additional 25,444 shares during the period. Boston Partners boosted its holdings in shares of Redwood Trust by 8.3% in the 4th quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust’s stock worth $17,561,000 after purchasing an additional 206,698 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Redwood Trust by 150.9% in the 4th quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust’s stock worth $13,031,000 after purchasing an additional 1,200,050 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.

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.