Redwood Trust (NYSE:RWT) Given Market Outperform Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Redwood Trust (NYSE:RWT) in a research report report published on Thursday morning, Benzinga reports. JMP Securities currently has a $8.00 price objective on the real estate investment trust’s stock.

RWT has been the subject of a number of other reports. Keefe, Bruyette & Woods reduced their target price on shares of Redwood Trust from $7.75 to $7.25 and set an outperform rating for the company in a report on Wednesday, April 10th. Raymond James decreased their price objective on Redwood Trust from $9.00 to $8.50 and set a strong-buy rating for the company in a research report on Friday, January 19th. UBS Group lowered their target price on Redwood Trust from $9.00 to $8.50 and set a buy rating on the stock in a research note on Tuesday, March 5th. Wedbush cut Redwood Trust from an outperform rating to a neutral rating and cut their price target for the stock from $8.00 to $6.50 in a research note on Thursday, April 11th. Finally, Piper Sandler lowered their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Redwood Trust presently has an average rating of Moderate Buy and a consensus price target of $7.64.

Redwood Trust Stock Up 2.3 %

RWT stock opened at $5.64 on Thursday. The company has a market cap of $741.45 million, a price-to-earnings ratio of -46.96 and a beta of 1.48. The company has a fifty day moving average price of $6.17 and a 200 day moving average price of $6.70. The company has a debt-to-equity ratio of 10.12, a current ratio of 7.36 and a quick ratio of 7.36. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.30.

Redwood Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 11.36%. The ex-dividend date was Wednesday, March 20th. Redwood Trust’s payout ratio is -533.33%.

Institutional Investors Weigh In On Redwood Trust

Several institutional investors have recently made changes to their positions in RWT. ProShare Advisors LLC increased its stake in Redwood Trust by 8.3% in the 2nd quarter. ProShare Advisors LLC now owns 17,800 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 1,370 shares in the last quarter. Advisor Partners II LLC grew its holdings in Redwood Trust by 1.5% in the fourth quarter. Advisor Partners II LLC now owns 95,388 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 1,385 shares during the last quarter. Simon Quick Advisors LLC increased its position in shares of Redwood Trust by 6.3% in the fourth quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,488 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Redwood Trust by 0.5% during the 2nd quarter. Prudential Financial Inc. now owns 301,444 shares of the real estate investment trust’s stock worth $2,924,000 after buying an additional 1,500 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of Redwood Trust by 29.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,213 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,649 shares in the last quarter. 74.34% of the stock is currently owned by hedge funds and other 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.