JonesTrading Reiterates Buy Rating for Redwood Trust (NYSE:RWT)

Redwood Trust (NYSE:RWT)‘s stock had its “buy” rating reaffirmed by research analysts at JonesTrading in a research report issued on Thursday,Benzinga reports. They presently have a $6.25 target price on the real estate investment trust’s stock. JonesTrading’s target price would suggest a potential upside of 9.17% from the company’s previous close.

RWT has been the topic of a number of other reports. JPMorgan Chase & Co. raised shares of Redwood Trust from a “neutral” rating to an “overweight” rating and set a $6.00 price target on the stock in a research report on Friday, January 23rd. Zacks Research lowered shares of Redwood Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup reissued a “market perform” rating on shares of Redwood Trust in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Redwood Trust from $5.75 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Redwood Trust presently has a consensus rating of “Hold” and an average price target of $6.89.

Redwood Trust Stock Performance

Shares of RWT stock opened at $5.73 on Thursday. The company has a debt-to-equity ratio of 26.42, a current ratio of 55.15 and a quick ratio of 55.15. The firm has a 50-day moving average of $5.81 and a 200-day moving average of $5.67. Redwood Trust has a one year low of $5.00 and a one year high of $6.97. The company has a market cap of $715.63 million, a P/E ratio of -7.34 and a beta of 1.40.

Redwood Trust (NYSE:RWT) last released its quarterly earnings results on Wednesday, February 11th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Redwood Trust had a negative net margin of 9.70% and a positive return on equity of 14.27%. The firm had revenue of $140.33 million for the quarter, compared to the consensus estimate of $24.88 million. Equities research analysts forecast that Redwood Trust will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Redwood Trust

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Redwood Trust by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 15,101,012 shares of the real estate investment trust’s stock worth $83,509,000 after purchasing an additional 80,529 shares in the last quarter. UBS Group AG increased its stake in shares of Redwood Trust by 521.1% in the fourth quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock worth $21,430,000 after purchasing an additional 3,251,302 shares in the last quarter. Invesco Ltd. increased its stake in shares of Redwood Trust by 25.4% in the fourth quarter. Invesco Ltd. now owns 2,551,067 shares of the real estate investment trust’s stock worth $14,107,000 after purchasing an additional 516,630 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Redwood Trust by 15.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,169,992 shares of the real estate investment trust’s stock worth $12,000,000 after purchasing an additional 282,800 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Redwood Trust by 7.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,148,393 shares of the real estate investment trust’s stock worth $12,439,000 after purchasing an additional 149,003 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.