Redwood Trust (NYSE:RWT) Price Target Raised to $9.00

Redwood Trust (NYSE:RWT) had its price objective upped by equities research analysts at JMP Securities from $8.50 to $9.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price objective suggests a potential upside of 20.24% from the stock’s current price.

RWT has been the subject of several other research reports. Wells Fargo & Company lifted their target price on Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. Piper Sandler lifted their target price on Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Raymond James raised their price target on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Wedbush raised their price target on Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Redwood Trust currently has a consensus rating of “Moderate Buy” and an average price target of $8.14.

Redwood Trust Price Performance

Shares of NYSE RWT opened at $7.49 on Friday. Redwood Trust has a fifty-two week low of $5.45 and a fifty-two week high of $8.15. The business has a 50 day moving average price of $7.43 and a two-hundred day moving average price of $6.74. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97. The firm has a market cap of $989.67 million, a PE ratio of 106.93 and a beta of 1.58.

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

Institutional Trading of Redwood Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Redwood Trust by 19.5% in the 1st quarter. Vanguard Group Inc. now owns 15,504,440 shares of the real estate investment trust’s stock worth $98,763,000 after buying an additional 2,530,937 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Redwood Trust by 164.4% in the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock worth $83,842,000 after buying an additional 7,035,524 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Redwood Trust by 2.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,846,227 shares of the real estate investment trust’s stock worth $11,760,000 after acquiring an additional 37,514 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Redwood Trust by 13.3% in the 1st quarter. Peregrine Capital Management LLC now owns 1,148,565 shares of the real estate investment trust’s stock worth $7,316,000 after acquiring an additional 134,715 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Redwood Trust by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,231 shares of the real estate investment trust’s stock worth $7,182,000 after acquiring an additional 127,143 shares during the last quarter. 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.