Redwood Trust (NYSE:RWT) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of Redwood Trust (NYSE:RWTGet Rating) in a research note issued on Friday, The Fly reports. The brokerage set an “overweight” rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the stock. Piper Sandler reduced their price objective on shares of Redwood Trust from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. TheStreet downgraded shares of Redwood Trust from a “c” rating to a “d+” rating in a research note on Thursday, April 14th. JMP Securities dropped their target price on shares of Redwood Trust from $14.50 to $13.00 in a research note on Tuesday, April 26th. Zacks Investment Research upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, Credit Suisse Group dropped their target price on shares of Redwood Trust from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, February 28th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.29.

Redwood Trust stock opened at $9.44 on Friday. The company has a debt-to-equity ratio of 7.50, a current ratio of 6.82 and a quick ratio of 5.53. Redwood Trust has a 1-year low of $8.63 and a 1-year high of $14.17. The firm has a market capitalization of $1.14 billion, a P/E ratio of 4.99 and a beta of 0.96. The company’s 50-day moving average is $10.06 and its 200 day moving average is $11.73.

Redwood Trust (NYSE:RWTGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Redwood Trust had a return on equity of 12.87% and a net margin of 39.78%. During the same quarter in the previous year, the business earned $0.40 earnings per share. Research analysts anticipate that Redwood Trust will post 1.25 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake in shares of Redwood Trust by 57.2% during the first quarter. LSV Asset Management now owns 2,424,953 shares of the real estate investment trust’s stock valued at $25,535,000 after purchasing an additional 882,431 shares in the last quarter. Alterna Wealth Management Inc. boosted its stake in shares of Redwood Trust by 47.5% during the first quarter. Alterna Wealth Management Inc. now owns 22,392 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 7,212 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Redwood Trust by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,861 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 12,189 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Redwood Trust by 2.6% during the first quarter. Rhumbline Advisers now owns 308,263 shares of the real estate investment trust’s stock valued at $3,246,000 after purchasing an additional 7,950 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Redwood Trust by 51.5% during the first quarter. MetLife Investment Management LLC now owns 59,710 shares of the real estate investment trust’s stock valued at $629,000 after purchasing an additional 20,294 shares in the last quarter. Hedge funds and other institutional investors own 75.21% of the company’s stock.

Redwood Trust Company Profile (Get Rating)

Redwood Trust, Inc, together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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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