Redwood Trust (NYSE:RWT - Get Free Report) had its target price increased by investment analysts at UBS Group from $6.50 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. UBS Group's target price suggests a potential upside of 17.35% from the stock's previous close.
A number of other research analysts have also recently issued reports on the stock. JMP Securities decreased their price objective on shares of Redwood Trust from $8.00 to $7.50 and set a "market outperform" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on Redwood Trust from $5.50 to $6.00 and gave the company 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 note on Wednesday, March 5th. Finally, Jones Trading restated a "buy" rating and issued a $7.00 price target on shares of Redwood Trust in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $7.50.
View Our Latest Research Report on RWT
Redwood Trust Stock Performance
Shares of RWT traded up $0.08 during midday trading on Monday, reaching $5.97. The stock had a trading volume of 876,865 shares, compared to its average volume of 949,616. 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 50 day simple moving average of $5.96 and a 200-day simple moving average of $6.52. The firm has a market cap of $793.24 million, a PE ratio of 18.08 and a beta of 1.45. Redwood Trust has a one year low of $4.68 and a one year high of $8.15.
Redwood Trust (NYSE:RWT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 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 the consensus estimate of $26.55 million. Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. As a group, sell-side analysts anticipate that Redwood Trust will post 0.78 EPS for the current year.
Hedge Funds Weigh In On Redwood Trust
A number of hedge funds and other institutional investors have recently bought and sold shares of RWT. LaSalle St. Investment Advisors LLC purchased a new position in shares of Redwood Trust in the 4th quarter worth about $37,000. Sovran Advisors LLC purchased a new stake in Redwood Trust in the fourth quarter worth approximately $63,000. KBC Group NV grew its position in Redwood Trust by 86.7% during the fourth quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 4,788 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Redwood Trust during the fourth quarter worth approximately $74,000. Finally, Cibc World Markets Corp bought a new stake in shares of Redwood Trust in the 4th quarter worth approximately $80,000. Hedge funds and other institutional investors own 74.34% of the company's stock.
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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