Redwood Trust (NYSE:RWT) PT Raised to $9.50 at Raymond James

Redwood Trust (NYSE:RWT) had its price target raised by Raymond James from $8.50 to $9.50 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price objective would indicate a potential upside of 17.72% from the company’s previous close.

RWT has been the subject of several other reports. Piper Sandler boosted their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Redwood Trust from $7.00 to $7.50 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Wedbush upped their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, JMP Securities upped their price target on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Redwood Trust currently has an average rating of “Moderate Buy” and a consensus price target of $7.92.

Redwood Trust Stock Performance

Redwood Trust stock traded up $0.08 during midday trading on Thursday, hitting $8.07. The company’s stock had a trading volume of 305,251 shares, compared to its average volume of 1,132,203. Redwood Trust has a 1-year low of $5.45 and a 1-year high of $8.15. The company has a debt-to-equity ratio of 12.97, a current ratio of 50.47 and a quick ratio of 50.47. The company has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $6.62. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 115.57 and a beta of 1.58.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, sell-side analysts predict that Redwood Trust will post 0.5 earnings per share for the current year.

Institutional Trading of Redwood Trust

A number of large investors have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC purchased a new position in shares of Redwood Trust in the second quarter worth about $69,000. MQS Management LLC bought a new stake in Redwood Trust during the first quarter valued at approximately $72,000. Algert Global LLC bought a new stake in Redwood Trust during the second quarter valued at approximately $86,000. Ameritas Investment Partners Inc. lifted its position in Redwood Trust by 26.5% during the first quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Redwood Trust during the fourth quarter valued at approximately $107,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.

About Redwood Trust

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.