Redwood Trust (NYSE:RWT) PT Raised to $9.00 at JMP Securities

Redwood Trust (NYSE:RWT) had its target price lifted by equities research analysts at JMP Securities from $8.00 to $9.00 in a report issued on Friday, Marketbeat.com reports. The firm presently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price objective would suggest a potential upside of 14.65% from the company’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com initiated coverage on Redwood Trust in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Piper Sandler lowered Redwood Trust from an “overweight” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Thursday, June 15th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.56.

Redwood Trust Price Performance

Redwood Trust stock opened at $7.85 on Friday. The stock’s fifty day moving average price is $7.48 and its two-hundred day moving average price is $6.79. Redwood Trust has a one year low of $5.47 and a one year high of $8.72. The company has a debt-to-equity ratio of 9.44, a current ratio of 6.85 and a quick ratio of 6.85. The firm has a market cap of $896.78 million, a PE ratio of -9.57 and a beta of 1.38.

Institutional Investors Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY lifted its holdings in Redwood Trust by 29.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,213 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,649 shares during the period. US Bancorp DE lifted its holdings in Redwood Trust by 76.5% during the 1st quarter. US Bancorp DE now owns 4,846 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,100 shares during the period. Clearbridge Investments LLC lifted its holdings in Redwood Trust by 4.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,866,345 shares of the real estate investment trust’s stock worth $12,579,000 after buying an additional 75,736 shares during the period. K2 Principal Fund L.P. lifted its holdings in Redwood Trust by 366.0% during the 4th quarter. K2 Principal Fund L.P. now owns 538,220 shares of the real estate investment trust’s stock worth $3,638,000 after buying an additional 422,720 shares during the period. Finally, Sculati Wealth Management LLC lifted its holdings in Redwood Trust by 8.6% during the 1st quarter. Sculati Wealth Management LLC now owns 147,273 shares of the real estate investment trust’s stock worth $993,000 after buying an additional 11,669 shares during the period. Institutional investors own 69.94% 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 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.