Redwood Trust (NYSE:RWT) Given Buy Rating at Jones Trading

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

A number of other research analysts also recently weighed in on the company. JMP Securities cut their price target on Redwood Trust from $8.00 to $7.50 and set a “market outperform” rating on the stock in a research note on Thursday, April 17th. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. boosted their target price on Redwood Trust from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.57.

Redwood Trust Stock Performance

Shares of NYSE:RWT 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 stock has a market capitalization of $783.93 million, a P/E ratio of 17.86 and a beta of 1.45. The business has a 50-day moving average price of $5.96 and a two-hundred day moving average price of $6.53.

Redwood Trust (NYSE:RWT) last posted its quarterly 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 business had revenue of $73.80 million for the quarter, compared to the consensus estimate of $26.55 million. Equities analysts predict that Redwood Trust will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On Redwood Trust

Several institutional investors have recently modified their holdings of RWT. Franklin Resources Inc. raised its holdings in Redwood Trust by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 72,486 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 3,206 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Redwood Trust by 63.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 152,860 shares of the real estate investment trust’s stock worth $998,000 after acquiring an additional 59,510 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Redwood Trust by 16.2% during the fourth quarter. Inspire Investing LLC now owns 61,583 shares of the real estate investment trust’s stock worth $402,000 after acquiring an additional 8,588 shares during the period. Vista Investment Partners LLC bought a new stake in Redwood Trust in the 4th quarter valued at $245,000. Finally, KBC Group NV boosted its stake in Redwood Trust by 86.7% in the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 4,788 shares during the period. Institutional investors own 74.34% of the company’s stock.

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.