Redwood Trust (NYSE:RWT) Price Target Cut to $10.00 by Analysts at Raymond James

Redwood Trust (NYSE:RWT – Get Rating) had its price target reduced by Raymond James from $11.00 to $10.00 in a research report sent to investors on Sunday, The Fly reports.

Several other analysts have also issued reports on RWT. JMP Securities boosted their price objective on shares of Redwood Trust from $9.00 to $9.50 and gave the company a market outperform rating in a report on Tuesday, February 7th. Keefe, Bruyette & Woods lowered their target price on Redwood Trust from $9.00 to $8.50 and set an outperform rating for the company in a report on Tuesday, February 14th. StockNews.com upgraded shares of Redwood Trust from a sell rating to a hold rating in a research note on Friday, February 10th. Finally, Wells Fargo & Company raised their price objective on shares of Redwood Trust from $7.50 to $8.50 and gave the company an equal weight rating in a research note on Friday, February 10th. Four 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 stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $9.44.

Redwood Trust Trading Up 1.6 %

RWT stock opened at $7.66 on Friday. Redwood Trust has a 52-week low of $5.51 and a 52-week high of $11.03. The company has a debt-to-equity ratio of 8.97, a current ratio of 5.29 and a quick ratio of 5.29. The business has a fifty day moving average of $7.69 and a two-hundred day moving average of $7.30.

Redwood Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 28th. Shareholders of record on Tuesday, December 20th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 12.01%. The ex-dividend date of this dividend was Monday, December 19th. Redwood Trust’s dividend payout ratio is presently -63.45%.

Insider Transactions at Redwood Trust

In other news, insider Andrew P. Stone sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $6.86, for a total transaction of $48,020.00. Following the sale, the insider now owns 106,821 shares of the company’s stock, valued at approximately $732,792.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Andrew P. Stone sold 7,000 shares of the stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $6.86, for a total value of $48,020.00. Following the transaction, the insider now directly owns 106,821 shares of the company’s stock, valued at approximately $732,792.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Collin L. Cochrane sold 11,706 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $6.86, for a total transaction of $80,303.16. Following the completion of the sale, the chief accounting officer now directly owns 56,899 shares of the company’s stock, valued at $390,327.14. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC acquired a new position in shares of Redwood Trust in the 2nd quarter valued at $12,038,000. Norges Bank acquired a new position in Redwood Trust in the fourth quarter valued at $7,534,000. Millennium Management LLC raised its holdings in shares of Redwood Trust by 544.7% in the fourth quarter. Millennium Management LLC now owns 1,187,981 shares of the real estate investment trust’s stock valued at $8,031,000 after buying an additional 1,003,705 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Redwood Trust by 104.5% during the first quarter. Invesco Ltd. now owns 1,912,012 shares of the real estate investment trust’s stock worth $20,133,000 after buying an additional 976,831 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Redwood Trust by 319.5% during the first quarter. Renaissance Technologies LLC now owns 1,052,127 shares of the real estate investment trust’s stock worth $11,079,000 after buying an additional 801,327 shares during the last quarter. Institutional investors and hedge funds own 71.73% of the company’s stock.

Redwood Trust Company Profile

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Redwood Trust, Inc is a financial company, which focuses on several distinct areas of housing credit. It operates through the following segments: Residential Lending, Business Purpose Lending, Third-Party Investments, and Corporate. The Residential Lending segment consists of a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer into the investment portfolio.