Jones Trading Has Lowered Expectations for Redwood Trust (NYSE:RWT) Stock Price

Redwood Trust (NYSE:RWT) had its price target lowered by analysts at Jones Trading from $8.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jones Trading’s target price indicates a potential upside of 26.47% from the stock’s current price.

A number of other equities analysts have also recently issued reports on RWT. JPMorgan Chase & Co. lowered their target price on Redwood Trust from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research report on Friday, February 14th. Finally, StockNews.com upgraded shares of Redwood Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.50.

Redwood Trust Stock Performance

RWT stock opened at $5.54 on Thursday. Redwood Trust has a 1-year low of $4.68 and a 1-year high of $8.15. The business’s 50-day moving average price is $6.05 and its two-hundred day moving average price is $6.64. The firm has a market cap of $736.06 million, a PE ratio of 16.77 and a beta of 1.15. 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 (NYSE:RWT) last issued its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business had revenue of $27.60 million during the quarter, compared to analyst estimates of $26.00 million. Redwood Trust had a net margin of 9.35% and a return on equity of 6.91%. As a group, research analysts forecast that Redwood Trust will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Redwood Trust

Several hedge funds have recently bought and sold shares of RWT. State Street Corp raised its stake in Redwood Trust by 2.0% in the third quarter. State Street Corp now owns 5,189,667 shares of the real estate investment trust’s stock valued at $40,116,000 after buying an additional 102,274 shares during the period. Geode Capital Management LLC boosted its position in Redwood Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,038,438 shares of the real estate investment trust’s stock worth $23,492,000 after purchasing an additional 25,444 shares during the period. Boston Partners increased its holdings in shares of Redwood Trust by 8.3% in the fourth quarter. Boston Partners now owns 2,707,027 shares of the real estate investment trust’s stock valued at $17,561,000 after purchasing an additional 206,698 shares during the last quarter. Invesco Ltd. raised its position in shares of Redwood Trust by 150.9% in the fourth quarter. Invesco Ltd. now owns 1,995,520 shares of the real estate investment trust’s stock valued at $13,031,000 after purchasing an additional 1,200,050 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Redwood Trust by 19.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,994,294 shares of the real estate investment trust’s stock worth $13,023,000 after buying an additional 321,612 shares during the last quarter. 74.34% of the stock is currently 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.