Redwood Trust (NYSE:RWT) Earns Buy Rating from Jones Trading

Redwood Trust (NYSE:RWT)‘s stock had its “buy” rating restated by equities researchers at Jones Trading in a research report issued on Friday,Benzinga reports. They currently have a $7.00 price objective on the real estate investment trust’s stock. Jones Trading’s price target indicates a potential upside of 18.74% from the stock’s previous close.

Several other brokerages have also recently commented on RWT. JMP Securities reduced their target price on Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. StockNews.com raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Redwood Trust from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Thursday. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Redwood Trust has a consensus rating of “Moderate Buy” and an average price target of $7.57.

Redwood Trust Trading Up 1.1 %

Shares of RWT stock opened at $5.90 on Friday. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.09. Redwood Trust has a 1 year low of $4.68 and a 1 year high of $8.15. The firm’s fifty day simple moving average is $5.96 and its 200 day simple moving average is $6.53. The firm has a market capitalization of $783.93 million, a P/E ratio of 17.86 and a beta of 1.45.

Redwood Trust (NYSE:RWT) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The firm had revenue of $73.80 million for the quarter, compared to analyst estimates of $26.55 million. As a group, sell-side analysts predict that Redwood Trust will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its holdings in Redwood Trust by 3.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,300 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 1,767 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Redwood Trust by 1.5% in the first quarter. New York State Teachers Retirement System now owns 152,430 shares of the real estate investment trust’s stock valued at $925,000 after buying an additional 2,326 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Redwood Trust by 3.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 72,744 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 2,383 shares in the last quarter. Focus Partners Wealth lifted its position in Redwood Trust by 14.1% during the 4th quarter. Focus Partners Wealth now owns 20,164 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 2,488 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in Redwood Trust by 3.9% during the 1st quarter. Apollon Wealth Management LLC now owns 81,897 shares of the real estate investment trust’s stock worth $497,000 after acquiring an additional 3,049 shares during the last quarter. 74.34% of the stock is 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.