Redwood Trust (NYSE:RWT) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Redwood Trust (NYSE:RWT) from a neutral rating to an overweight rating in a report published on Friday, Marketbeat reports. The firm currently has $6.00 price target on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Redwood Trust from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. BTIG Research restated a “buy” rating and issued a $8.50 price target on shares of Redwood Trust in a research note on Friday, September 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Redwood Trust in a research note on Wednesday, October 8th. Finally, Jones Trading lowered their target price on Redwood Trust from $7.00 to $6.25 and set a “buy” rating for the company in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.75.

Redwood Trust Trading Up 3.3%

Shares of NYSE RWT opened at $5.82 on Friday. The company has a current ratio of 57.77, a quick ratio of 57.77 and a debt-to-equity ratio of 22.73. The stock has a market capitalization of $736.64 million, a PE ratio of -7.18 and a beta of 1.58. Redwood Trust has a twelve month low of $4.68 and a twelve month high of $6.73. The stock has a fifty day simple moving average of $5.55 and a 200-day simple moving average of $5.72.

Redwood Trust (NYSE:RWT) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $54.37 million for the quarter, compared to analyst estimates of $31.04 million. Redwood Trust had a positive return on equity of 9.19% and a negative net margin of 8.62%. On average, equities analysts forecast that Redwood Trust will post 0.78 earnings per share for the current year.

Redwood Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 23rd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 12.4%. The ex-dividend date of this dividend was Tuesday, December 23rd. Redwood Trust’s dividend payout ratio is -88.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Redwood Trust by 26.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 492,661 shares of the real estate investment trust’s stock worth $2,990,000 after acquiring an additional 103,893 shares in the last quarter. Jane Street Group LLC purchased a new position in Redwood Trust in the first quarter valued at approximately $2,018,000. Strs Ohio acquired a new stake in Redwood Trust during the first quarter worth approximately $149,000. State of Alaska Department of Revenue raised its holdings in Redwood Trust by 8.0% during the second quarter. State of Alaska Department of Revenue now owns 79,299 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 5,871 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Redwood Trust by 16.8% during the 2nd quarter. Inspire Investing LLC now owns 66,356 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 9,547 shares during the last quarter. 74.34% of the stock is owned by institutional investors and hedge funds.

About Redwood Trust

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.