Redwood Trust (NYSE:RWT) Price Target Lowered to $7.00 at JMP Securities

Key Points

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Redwood Trust (NYSE:RWT - Get Free Report) had its price target decreased by equities research analysts at JMP Securities from $7.50 to $7.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the real estate investment trust's stock. JMP Securities' price target suggests a potential upside of 26.93% from the stock's previous close.

RWT has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Jones Trading reaffirmed a "buy" rating and set a $7.00 price target on shares of Redwood Trust in a research report on Friday, May 2nd. UBS Group lowered their price target on shares of Redwood Trust from $7.00 to $6.50 and set a "buy" rating on the stock in a research report on Thursday. Wall Street Zen raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods lowered shares of Redwood Trust from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $7.00 to $6.50 in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.31.

Redwood Trust Stock Performance

Shares of NYSE:RWT traded up $0.06 on Thursday, hitting $5.52. The company had a trading volume of 52,884 shares, compared to its average volume of 992,465. Redwood Trust has a 1-year low of $4.68 and a 1-year high of $8.15. The stock has a market cap of $734.15 million, a price-to-earnings ratio of -8.62 and a beta of 1.31. The stock has a 50 day moving average price of $5.80 and a 200 day moving average price of $5.99. The company has a current ratio of 39.35, a quick ratio of 39.35 and a debt-to-equity ratio of 18.74.

Redwood Trust (NYSE:RWT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Redwood Trust had a negative net margin of 9.26% and a positive return on equity of 8.57%. The company had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. Analysts expect that Redwood Trust will post 0.78 EPS for the current year.

Institutional Investors Weigh In On Redwood Trust

A number of large investors have recently bought and sold shares of RWT. Invesco Ltd. grew its stake 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 worth $13,031,000 after buying an additional 1,200,050 shares in the last quarter. LSV Asset Management grew its stake in Redwood Trust by 58.9% during the first quarter. LSV Asset Management now owns 1,772,345 shares of the real estate investment trust's stock worth $10,758,000 after buying an additional 657,141 shares in the last quarter. Jane Street Group LLC acquired a new stake in Redwood Trust during the first quarter worth about $2,018,000. Nuveen LLC acquired a new stake in shares of Redwood Trust in the 1st quarter valued at approximately $1,983,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of 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 valued at $13,023,000 after purchasing an additional 321,612 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

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.