Redwood Trust (NYSE:RWT - Get Free Report)'s stock had its "buy" rating restated by research analysts at Jones Trading in a research note issued on Friday,Benzinga reports. They currently have a $7.00 price objective on the real estate investment trust's stock. Jones Trading's target price would indicate a potential upside of 18.74% from the stock's current price.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Redwood Trust from $5.50 to $6.00 and gave the stock a "neutral" rating in a research note on Thursday. StockNews.com raised Redwood Trust from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, JMP Securities cut their price objective on Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Redwood Trust has an average rating of "Moderate Buy" and a consensus target price of $7.57.
View Our Latest Stock Analysis on Redwood Trust
Redwood Trust Stock Up 1.1 %
Shares of Redwood Trust stock traded up $0.07 during trading on Friday, reaching $5.90. The company's stock had a trading volume of 921,613 shares, compared to its average volume of 949,908. The company has a 50-day simple moving average of $5.96 and a two-hundred day simple moving average of $6.52. Redwood Trust has a 1-year low of $4.68 and a 1-year high of $8.15. The company has a market cap of $783.93 million, a price-to-earnings ratio of 17.86 and a beta of 1.45. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.09.
Redwood Trust (NYSE:RWT - Get Free Report) 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 company had revenue of $73.80 million for the quarter, compared to analyst estimates of $26.55 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. As a group, equities analysts forecast that Redwood Trust will post 0.78 earnings per share for the current year.
Institutional Trading of Redwood Trust
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC boosted its position in Redwood Trust by 3.9% in the 1st quarter. Apollon Wealth Management LLC now owns 81,897 shares of the real estate investment trust's stock worth $497,000 after purchasing an additional 3,049 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Redwood Trust by 52.4% in the 1st quarter. M&T Bank Corp now owns 33,539 shares of the real estate investment trust's stock valued at $204,000 after purchasing an additional 11,526 shares during the period. Bank of New York Mellon Corp boosted its holdings in Redwood Trust by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 1,076,392 shares of the real estate investment trust's stock worth $6,534,000 after buying an additional 72,765 shares in the last quarter. Principal Financial Group Inc. grew its position in Redwood Trust by 2.9% during the first quarter. Principal Financial Group Inc. now owns 659,909 shares of the real estate investment trust's stock valued at $4,006,000 after buying an additional 18,499 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Redwood Trust in the first quarter valued at $118,000. 74.34% of the stock is owned by institutional investors and hedge funds.
About Redwood Trust
(
Get Free Report)
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.
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