Redwood Trust (NYSE:RWT) Price Target Raised to $9.50

by · The Markets Daily

Redwood Trust (NYSE:RWT – Get Free Report) had its price objective raised by investment analysts at Raymond James from $8.50 to $9.50 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target would suggest a potential upside of 19.80% from the company’s current price.

A number of other equities research analysts have also weighed in on RWT. Wedbush raised their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JMP Securities raised their price target on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Piper Sandler raised their price target on shares of Redwood Trust from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, 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. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.08.

Get Our Latest Stock Analysis on Redwood Trust

Redwood Trust Price Performance

Redwood Trust stock opened at $7.93 on Thursday. Redwood Trust has a 52-week low of $5.45 and a 52-week high of $8.15. The firm has a fifty day moving average of $7.37 and a 200-day moving average of $6.64. The firm has a market capitalization of $1.05 billion, a P/E ratio of 113.29 and a beta of 1.58. The company has a quick ratio of 50.47, a current ratio of 50.47 and a debt-to-equity ratio of 12.97.

Redwood Trust (NYSE:RWT – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Redwood Trust had a net margin of 4.45% and a return on equity of 4.93%. During the same period last year, the company earned $0.14 earnings per share. As a group, analysts predict that Redwood Trust will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Redwood Trust in the 2nd quarter worth about $86,000. Caxton Associates LP bought a new position in shares of Redwood Trust in the 2nd quarter worth about $234,000. Public Sector Pension Investment Board lifted its position in shares of Redwood Trust by 7.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 290,767 shares of the real estate investment trust’s stock worth $1,887,000 after buying an additional 21,232 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Redwood Trust by 59.9% in the 2nd quarter. Brighton Jones LLC now owns 74,124 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 27,764 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Redwood Trust in the 2nd quarter worth about $113,000. 74.34% of the stock is currently owned by institutional investors.

Redwood Trust Company Profile

(Get Free Report)

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.

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