Redwood Trust (NYSE:RWT) Given New $6.00 Price Target at JPMorgan Chase & Co.

Redwood Trust (NYSE:RWT) had its price target lifted by JPMorgan Chase & Co. from $5.50 to $6.00 in a research note published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also weighed in on RWT. Jones Trading lowered their price objective on Redwood Trust from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, April 17th. JMP Securities reduced their price target on shares of Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.57.

Redwood Trust Price Performance

Shares of RWT stock opened at $5.83 on Thursday. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. The firm has a fifty day simple moving average of $5.97 and a 200-day simple moving average of $6.55. The company has a market capitalization of $775.02 million, a PE ratio of 17.66 and a beta of 1.15. Redwood Trust has a twelve month low of $4.68 and a twelve month high of $8.15.

Redwood Trust (NYSE:RWT) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $73.80 million for the quarter, compared to analysts’ expectations of $26.55 million. Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. Equities research analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.72 annualized dividend and a yield of 12.35%. Redwood Trust’s payout ratio is 218.18%.

Institutional Investors Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Redwood Trust by 150.9% in the fourth quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust’s stock worth $13,031,000 after acquiring an additional 1,200,050 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Redwood Trust by 19.2% in the fourth 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 buying an additional 321,612 shares during the last quarter. Angel Oak Capital Advisors LLC bought a new position in shares of Redwood Trust in the fourth quarter valued at $1,726,000. Boston Partners grew 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 acquiring an additional 206,698 shares during the last quarter. Finally, Northern Trust Corp boosted its position 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 valued at $10,248,000 after purchasing an additional 197,719 shares during the period. 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.