Redwood Trust (NYSE:RWT) Earns Neutral Rating from JPMorgan Chase & Co.

Redwood Trust (NYSE:RWT)‘s stock had its “neutral” rating reissued by investment analysts at JPMorgan Chase & Co. in a research report issued on Monday, Marketbeat reports. They presently have a $7.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $8.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 0.43% from the stock’s current price.

A number of other brokerages also recently issued reports on RWT. Raymond James lifted their price objective on Redwood Trust from $8.50 to $9.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company boosted their price target on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. JMP Securities increased their price objective on shares of Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research report on Friday, October 4th. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Redwood Trust presently has an average rating of “Moderate Buy” and an average price target of $8.03.

Redwood Trust Stock Performance

NYSE RWT opened at $6.97 on Monday. The company has a market capitalization of $921.92 million, a price-to-earnings ratio of 12.67 and a beta of 1.57. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.15. The stock has a fifty day simple moving average of $7.31 and a 200 day simple moving average of $7.14. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55.

Institutional Investors Weigh In On Redwood Trust

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of Redwood Trust by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 14,611,264 shares of the real estate investment trust’s stock worth $112,945,000 after purchasing an additional 941,223 shares in the last quarter. Ceredex Value Advisors LLC boosted its holdings in Redwood Trust by 48.8% in the second quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock worth $5,883,000 after acquiring an additional 297,100 shares in the last quarter. NFC Investments LLC boosted its holdings in Redwood Trust by 127.7% in the third quarter. NFC Investments LLC now owns 484,975 shares of the real estate investment trust’s stock worth $3,749,000 after acquiring an additional 271,975 shares in the last quarter. Van ECK Associates Corp grew its stake in Redwood Trust by 21.7% in the second quarter. Van ECK Associates Corp now owns 976,283 shares of the real estate investment trust’s stock valued at $6,336,000 after acquiring an additional 174,317 shares during the period. Finally, Systematic Financial Management LP bought a new stake in shares of Redwood Trust during the third quarter valued at approximately $1,217,000. 74.34% of the stock is currently owned by institutional investors and hedge funds.

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.