JMP Securities Issues Pessimistic Forecast for Redwood Trust (NYSE:RWT) Stock Price

Redwood Trust (NYSE:RWT) had its price objective lowered by equities research analysts at JMP Securities from $9.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 26.28% from the stock’s current price.

Several other research firms also recently weighed in on RWT. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Redwood Trust has an average rating of “Moderate Buy” and an average target price of $7.84.

Redwood Trust Trading Down 0.1 %

RWT traded down $0.01 during trading hours on Thursday, reaching $6.34. 45,064 shares of the company’s stock traded hands, compared to its average volume of 917,448. Redwood Trust has a 52-week low of $5.45 and a 52-week high of $8.15. The firm has a market capitalization of $839.51 million, a PE ratio of 11.52 and a beta of 1.57. The firm has a 50-day moving average price of $6.79 and a 200 day moving average price of $7.18. The company has a quick ratio of 44.36, a current ratio of 44.36 and a debt-to-equity ratio of 14.55.

Redwood Trust (NYSE:RWT) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Redwood Trust had a net margin of 9.35% and a return on equity of 6.01%. During the same quarter last year, the firm earned $0.09 EPS. As a group, sell-side analysts predict that Redwood Trust will post 0.57 EPS for the current fiscal year.

Institutional Trading of Redwood Trust

A number of institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Redwood Trust in the second quarter valued at about $113,000. Public Sector Pension Investment Board boosted its stake in Redwood Trust by 7.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 290,767 shares of the real estate investment trust’s stock worth $1,887,000 after purchasing an additional 21,232 shares in the last quarter. Caxton Associates LP acquired a new stake in Redwood Trust in the 2nd quarter worth approximately $234,000. Algert Global LLC acquired a new position in Redwood Trust during the 2nd quarter valued at approximately $86,000. Finally, SG Americas Securities LLC raised its holdings in shares of Redwood Trust by 91.1% in the third quarter. SG Americas Securities LLC now owns 71,254 shares of the real estate investment trust’s stock worth $551,000 after buying an additional 33,976 shares during the last quarter. Institutional investors and hedge funds own 74.34% 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 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.