Redwood Trust (NYSE:RWT) Price Target Lowered to $5.50 at JPMorgan Chase & Co.

Redwood Trust (NYSE:RWT) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $6.50 to $5.50 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.63% from the stock’s current price.

A number of other equities analysts also recently commented on the company. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of Redwood Trust in a research note on Friday, February 14th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Redwood Trust has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Redwood Trust Stock Up 4.2 %

Redwood Trust stock opened at $5.54 on Wednesday. The firm’s 50 day moving average price is $6.08 and its two-hundred day moving average price is $6.66. The firm has a market cap of $736.06 million, a PE ratio of 16.77 and a beta of 1.15. Redwood Trust has a twelve month low of $4.68 and a twelve month high of $8.15. The company has a debt-to-equity ratio of 14.09, a quick ratio of 44.36 and a current ratio of 44.36.

Redwood Trust (NYSE:RWT) last announced 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). Redwood Trust had a return on equity of 6.91% and a net margin of 9.35%. The firm had revenue of $27.60 million for the quarter, compared to analysts’ expectations of $26.00 million. On average, research analysts predict that Redwood Trust will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Redwood Trust by 406.1% in the first quarter. GAMMA Investing LLC now owns 21,196 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 17,008 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Redwood Trust by 33.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 388,768 shares of the real estate investment trust’s stock worth $2,539,000 after acquiring an additional 97,205 shares during the last quarter. ProShare Advisors LLC increased its position in Redwood Trust by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 39,695 shares of the real estate investment trust’s stock worth $259,000 after acquiring an additional 12,214 shares during the period. Millennium Management LLC grew its position in Redwood Trust by 52.5% in the 4th quarter. Millennium Management LLC now owns 88,003 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 30,286 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Redwood Trust by 10.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,253 shares of the real estate investment trust’s stock worth $11,272,000 after purchasing an additional 169,729 shares during the period. Institutional investors own 74.34% of the company’s stock.

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.