Redwood Trust’s (RWT) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

Redwood Trust (NYSE:RWT)‘s stock had its “neutral” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued on Monday,Benzinga reports. They presently have a $7.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $8.00. JPMorgan Chase & Co.‘s target price suggests a potential downside of 2.78% from the company’s previous close.

Several other brokerages also recently issued reports on RWT. Wells Fargo & Company upped their target price on shares of Redwood Trust from $7.50 to $8.50 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Raymond James upped their price objective on Redwood Trust from $8.50 to $9.50 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. JMP Securities lifted their target price on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a report on Friday, October 4th. Finally, StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.03.

Redwood Trust Price Performance

RWT opened at $7.20 on Monday. The firm has a market cap of $952.34 million, a PE ratio of 13.09 and a beta of 1.57. The stock has a 50-day moving average price of $7.34 and a 200-day moving average price of $7.13. Redwood Trust has a 1 year low of $5.45 and a 1 year high of $8.15. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Redwood Trust in the 2nd quarter worth $242,000. Nisa Investment Advisors LLC grew its stake in shares of Redwood Trust by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 93,427 shares of the real estate investment trust’s stock valued at $606,000 after acquiring an additional 6,192 shares during the period. Louisiana State Employees Retirement System increased its holdings in Redwood Trust by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 1,400 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in Redwood Trust by 48.8% during the 2nd quarter. Ceredex Value Advisors LLC now owns 906,512 shares of the real estate investment trust’s stock worth $5,883,000 after acquiring an additional 297,100 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in Redwood Trust by 53.5% during the second quarter. Raymond James Trust N.A. now owns 18,118 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 6,318 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors.

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 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.