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

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

A number of other analysts also recently commented on RWT. UBS Group decreased their target price on Redwood Trust from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Piper Sandler decreased their target price on Redwood Trust from $7.50 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Raymond James decreased their target price on Redwood Trust from $9.00 to $8.50 and set a “strong-buy” rating on the stock in a research report on Friday, January 19th. Keefe, Bruyette & Woods decreased their target price on Redwood Trust from $7.75 to $7.25 and set an “outperform” rating on the stock in a research report on Wednesday, April 10th. Finally, Wedbush downgraded Redwood Trust from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.50 in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Redwood Trust presently has an average rating of “Moderate Buy” and a consensus target price of $7.64.

Redwood Trust Price Performance

RWT stock traded up $0.11 on Thursday, reaching $5.62. 393,922 shares of the company’s stock were exchanged, compared to its average volume of 1,476,172. The stock has a fifty day moving average of $6.19 and a 200-day moving average of $6.71. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12. The firm has a market cap of $739.48 million, a PE ratio of -46.83 and a beta of 1.48. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.30.

Institutional Trading of Redwood Trust

Several institutional investors and hedge funds have recently made changes to their positions in RWT. International Assets Investment Management LLC lifted its position in shares of Redwood Trust by 641.0% in the fourth quarter. International Assets Investment Management LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 3,205 shares in the last quarter. Quarry LP increased its stake in Redwood Trust by 736.7% in the first quarter. Quarry LP now owns 5,614 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 4,943 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Redwood Trust by 71.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,683 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 2,796 shares during the last quarter. O Dell Group LLC acquired a new position in Redwood Trust in the fourth quarter valued at $44,000. Finally, Metropolitan Life Insurance Co NY increased its stake in Redwood Trust by 29.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,649 shares during the last quarter. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

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.