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

Key Points

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Redwood Trust (NYSE:RWT - Get Free Report) had its target price decreased by JMP Securities from $7.50 to $7.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "market outperform" rating on the real estate investment trust's stock. JMP Securities' target price indicates a potential upside of 28.21% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Jones Trading reissued a "buy" rating and issued a $7.00 price objective on shares of Redwood Trust in a research report on Friday, May 2nd. UBS Group decreased their price objective on shares of Redwood Trust from $7.00 to $6.50 and set a "buy" rating for the company 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. Keefe, Bruyette & Woods downgraded shares of Redwood Trust from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $7.00 to $6.50 in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Redwood Trust from $5.50 to $6.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.28.

Redwood Trust Price Performance

RWT stock remained flat at $5.46 during midday trading on Thursday. 2,252,471 shares of the company's stock traded hands, compared to its average volume of 924,467. The company has a quick ratio of 39.35, a current ratio of 39.35 and a debt-to-equity ratio of 18.74. Redwood Trust has a 12-month low of $4.68 and a 12-month high of $8.15. The business has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $6.00. The firm has a market cap of $726.84 million, a PE ratio of -8.53 and a beta of 1.31.

Redwood Trust (NYSE:RWT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.18 earnings per share (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 business had revenue of ($38.10) million during the quarter, compared to analyst estimates of $31.00 million. Equities analysts expect that Redwood Trust will post 0.78 EPS for the current fiscal year.

Institutional Trading of Redwood Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC grew its position in shares of Redwood Trust by 270.5% during the 2nd quarter. CWM LLC now owns 6,168 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 4,503 shares in the last quarter. LaSalle St. Investment Advisors LLC acquired a new stake in shares of Redwood Trust in the fourth quarter valued at approximately $37,000. Quantbot Technologies LP acquired a new stake in shares of Redwood Trust in the first quarter valued at approximately $37,000. AlphaQuest LLC raised its position in shares of Redwood Trust by 165.5% in the first quarter. AlphaQuest LLC now owns 8,589 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 5,354 shares in the last quarter. Finally, Carrera Capital Advisors acquired a new position in Redwood Trust in the 1st quarter valued at $65,000. 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.