Redwood Trust (NYSE:RWT) Receives “Market Outperform” Rating from JMP Securities

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

Several other equities analysts also recently weighed in on the company. Raymond James decreased their target price on Redwood Trust from $9.00 to $8.50 and set a strong-buy rating on the stock in a research report on Friday, January 19th. Wells Fargo & Company dropped their target price on shares of Redwood Trust from $8.00 to $7.00 and set an equal weight rating for the company in a report on Wednesday, February 21st. Keefe, Bruyette & Woods decreased their price target on shares of Redwood Trust from $7.75 to $7.25 and set an outperform rating on the stock in a research note on Wednesday, April 10th. Wedbush lowered shares of Redwood Trust from an outperform rating to a neutral rating and lowered their price target for the stock from $8.00 to $6.50 in a research report on Thursday, April 11th. Finally, Piper Sandler cut their price objective on shares of Redwood Trust from $7.50 to $7.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $7.64.

Check Out Our Latest Stock Report on Redwood Trust

Redwood Trust Stock Up 0.9 %

RWT opened at $5.68 on Thursday. The company has a market cap of $747.37 million, a PE ratio of -47.33 and a beta of 1.48. Redwood Trust has a twelve month low of $5.45 and a twelve month high of $8.30. The company has a 50-day moving average price of $6.15 and a 200 day moving average price of $6.69. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 10.12.

Redwood Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 21st were paid a $0.16 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.64 annualized dividend and a dividend yield of 11.27%. Redwood Trust’s dividend payout ratio (DPR) is -533.33%.

Institutional Trading of Redwood Trust

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Redwood Trust by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,973,503 shares of the real estate investment trust’s stock worth $96,134,000 after acquiring an additional 78,222 shares during the last quarter. Wellington Management Group LLP raised its holdings in Redwood Trust by 164.4% in the 4th quarter. Wellington Management Group LLP now owns 11,314,715 shares of the real estate investment trust’s stock valued at $83,842,000 after buying an additional 7,035,524 shares during the period. State Street Corp lifted its position in Redwood Trust by 1.9% in the third quarter. State Street Corp now owns 4,359,312 shares of the real estate investment trust’s stock valued at $25,022,000 after buying an additional 79,780 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Redwood Trust by 15.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,777,300 shares of the real estate investment trust’s stock valued at $26,932,000 after buying an additional 509,536 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Redwood Trust by 9.3% during the second quarter. Geode Capital Management LLC now owns 2,357,620 shares of the real estate investment trust’s stock worth $15,018,000 after buying an additional 199,769 shares during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

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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.

Further Reading

Analyst Recommendations for Redwood Trust (NYSE:RWT)

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