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

JMP Securities reaffirmed their market outperform rating on shares of Redwood Trust (NYSE:RWT) in a research report released on Thursday, Benzinga reports. They currently have a $8.00 target price on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on the stock. Wedbush cut shares of Redwood Trust from an outperform rating to a neutral rating and cut their target price for the stock from $8.00 to $6.50 in a report on Thursday, April 11th. UBS Group cut their price target on Redwood Trust from $9.00 to $8.50 and set a buy rating on the stock in a report on Tuesday, March 5th. Piper Sandler lowered their price objective on Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Keefe, Bruyette & Woods cut their target price on Redwood Trust from $7.75 to $7.25 and set an outperform rating on the stock in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price target on shares of Redwood Trust from $8.00 to $7.00 and set an equal weight rating for the company in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Redwood Trust currently has a consensus rating of Moderate Buy and a consensus target price of $7.64.

Redwood Trust Stock Up 2.3 %

Shares of NYSE:RWT opened at $5.64 on Thursday. The company’s fifty day moving average is $6.17 and its two-hundred day moving average is $6.70. 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 1-year low of $5.45 and a 1-year high of $8.30. The stock has a market capitalization of $741.45 million, a price-to-earnings ratio of -46.96 and a beta of 1.48.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.36%. The ex-dividend date of this dividend was Wednesday, March 20th. Redwood Trust’s dividend payout ratio (DPR) is -533.33%.

Institutional Investors Weigh In On Redwood Trust

Several institutional investors have recently bought and sold shares of RWT. Wellington Management Group LLP raised its position in shares of Redwood Trust by 157.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock worth $30,511,000 after buying an additional 2,614,898 shares in the last quarter. Boston Partners acquired a new position in shares of Redwood Trust during the third quarter valued at approximately $12,015,000. Victory Capital Management Inc. lifted its position in Redwood Trust by 383.2% in the third quarter. Victory Capital Management Inc. now owns 128,334 shares of the real estate investment trust’s stock worth $915,000 after purchasing an additional 101,774 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Redwood Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,670,825 shares of the real estate investment trust’s stock worth $11,913,000 after purchasing an additional 44,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Redwood Trust by 1,944.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 976,088 shares of the real estate investment trust’s stock valued at $7,233,000 after purchasing an additional 928,337 shares in the last quarter. Institutional investors and hedge funds 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.