Redwood Trust (NYSE:RWT) PT Raised to $9.50 at Raymond James

Redwood Trust (NYSE:RWT) had its price target raised by equities researchers at Raymond James from $8.50 to $9.50 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price objective suggests a potential upside of 17.72% from the stock’s previous close.

RWT has been the topic of a number of other reports. Piper Sandler upped their target price on shares of Redwood Trust from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Wedbush upped their price target on shares of Redwood Trust from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Redwood Trust from $7.00 to $7.50 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, JMP Securities upped their target price on shares of Redwood Trust from $8.00 to $8.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.92.

Redwood Trust Trading Up 1.0 %

Shares of RWT traded up $0.08 during mid-day trading on Thursday, reaching $8.07. The company’s stock had a trading volume of 305,251 shares, compared to its average volume of 1,132,203. The stock has a market cap of $1.07 billion, a PE ratio of 115.57 and a beta of 1.58. The company has a current ratio of 50.47, a quick ratio of 50.47 and a debt-to-equity ratio of 12.97. Redwood Trust has a 52 week low of $5.45 and a 52 week high of $8.15. The company’s fifty day moving average price is $7.33 and its two-hundred day moving average price is $6.62.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.14 EPS. On average, analysts predict that Redwood Trust will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Redwood Trust

Institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC bought a new position in shares of Redwood Trust in the 2nd quarter worth approximately $69,000. MQS Management LLC purchased a new stake in Redwood Trust in the 1st quarter worth approximately $72,000. Algert Global LLC purchased a new stake in Redwood Trust in the 2nd quarter worth approximately $86,000. Ameritas Investment Partners Inc. grew its holdings in Redwood Trust by 26.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 14,324 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 3,000 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Redwood Trust during the 4th quarter valued at approximately $107,000. 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.