JMP Securities Boosts Redwood Trust (NYSE:RWT) Price Target to $8.50

Redwood Trust (NYSE:RWT) had its price target raised by JMP Securities from $8.00 to $8.50 in a research report report published on Friday, Benzinga reports. The firm currently has a market outperform rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on RWT. Wedbush restated a neutral rating and issued a $6.50 price target on shares of Redwood Trust in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Redwood Trust from $7.00 to $7.50 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Redwood Trust from $7.75 to $7.25 and set an outperform rating on the stock in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $7.69.

Redwood Trust Stock Down 0.5 %

Shares of Redwood Trust stock opened at $7.41 on Friday. The company has a debt-to-equity ratio of 10.66, a current ratio of 9.09 and a quick ratio of 9.09. Redwood Trust has a 1 year low of $5.45 and a 1 year high of $8.30. The firm’s 50-day moving average is $6.55 and its two-hundred day moving average is $6.42. The stock has a market cap of $979.23 million, a price-to-earnings ratio of 105.86 and a beta of 1.58.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 8.64%. The ex-dividend date was Friday, June 21st. Redwood Trust’s payout ratio is currently 914.29%.

Insider Activity at Redwood Trust

In related news, CFO Brooke Carillo acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $6.25 per share, with a total value of $93,750.00. Following the transaction, the chief financial officer now directly owns 56,772 shares of the company’s stock, valued at approximately $354,825. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redwood Trust

A number of institutional investors have recently bought and sold shares of RWT. Wellington Management Group LLP raised its position in Redwood Trust by 157.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,279,191 shares of the real estate investment trust’s stock worth $30,511,000 after buying an additional 2,614,898 shares during the last quarter. SG Americas Securities LLC raised its position in Redwood Trust by 25.9% during the 4th quarter. SG Americas Securities LLC now owns 17,807 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 3,662 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in Redwood Trust during the 4th quarter worth approximately $197,000. Simon Quick Advisors LLC raised its position in Redwood Trust by 6.3% during the 4th quarter. Simon Quick Advisors LLC now owns 25,246 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 1,488 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Redwood Trust by 2.4% during the 4th quarter. State of Alaska Department of Revenue now owns 72,984 shares of the real estate investment trust’s stock worth $540,000 after buying an additional 1,715 shares during the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.

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.