JMP Securities Raises Redwood Trust (NYSE:RWT) Price Target to $9.00

Redwood Trust (NYSE:RWT) had its price objective upped by research analysts at JMP Securities from $8.50 to $9.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ target price points to a potential upside of 19.05% from the company’s current price.

Several other brokerages have also recently issued reports on RWT. JPMorgan Chase & Co. increased their price target on shares of Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Wedbush increased their target price on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Piper Sandler boosted their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Wells Fargo & Company increased their price objective on Redwood Trust from $7.50 to $8.50 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Finally, Raymond James boosted their target price 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. Three investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.14.

Redwood Trust Stock Performance

NYSE:RWT opened at $7.56 on Friday. The stock has a market capitalization of $999.58 million, a P/E ratio of 108.00 and a beta of 1.58. The company has a debt-to-equity ratio of 12.97, a quick ratio of 50.47 and a current ratio of 50.47. Redwood Trust has a fifty-two week low of $5.45 and a fifty-two week high of $8.15. The company has a 50 day moving average price of $7.43 and a 200 day moving average price of $6.76.

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, beating analysts’ consensus estimates 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 in the previous year, the firm earned $0.14 earnings per share. Equities research analysts forecast that Redwood Trust will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its holdings in Redwood Trust by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 1,400 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Redwood Trust by 9.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 1,889 shares during the last quarter. Victory Capital Management Inc. raised its stake in Redwood Trust by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 33,849 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 2,450 shares in the last quarter. EMC Capital Management lifted its position in Redwood Trust by 11.3% in the first quarter. EMC Capital Management now owns 29,377 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 2,989 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in Redwood Trust by 4.5% in the first quarter. Illinois Municipal Retirement Fund now owns 69,768 shares of the real estate investment trust’s stock valued at $444,000 after acquiring an additional 2,993 shares in the last quarter. 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.