JMP Securities Lowers Redwood Trust (NYSE:RWT) Price Target to $7.50

Redwood Trust (NYSE:RWT) had its price target reduced by JMP Securities from $8.00 to $7.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ target price points to a potential upside of 38.50% from the stock’s current price.

RWT has been the subject of a number of other reports. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Jones Trading decreased their target price on Redwood Trust from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Redwood Trust presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Redwood Trust Trading Up 2.0 %

RWT traded up $0.11 during trading on Thursday, reaching $5.42. 230,878 shares of the stock traded hands, compared to its average volume of 948,712. The stock’s 50-day moving average is $6.10 and its 200 day moving average is $6.67. Redwood Trust has a 12 month low of $4.68 and a 12 month high of $8.15. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09. The stock has a market capitalization of $720.10 million, a PE ratio of 16.41 and a beta of 1.15.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings results 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 net margin of 9.35% and a return on equity of 6.91%. The company had revenue of $27.60 million during the quarter, compared to the consensus estimate of $26.00 million. Equities analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. lifted its position in Redwood Trust by 150.9% during the fourth quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust’s stock valued at $13,031,000 after buying an additional 1,200,050 shares during the period. Balyasny Asset Management L.P. boosted its stake in Redwood Trust by 19.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,994,294 shares of the real estate investment trust’s stock worth $13,023,000 after purchasing an additional 321,612 shares in the last quarter. Angel Oak Capital Advisors LLC bought a new stake in Redwood Trust during the 4th quarter valued at about $1,726,000. Boston Partners raised its holdings in 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 acquiring an additional 206,698 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Redwood Trust by 14.4% in the 4th quarter. Northern Trust Corp now owns 1,569,301 shares of the real estate investment trust’s stock worth $10,248,000 after purchasing an additional 197,719 shares in the last quarter. 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.