JMP Securities Cuts Redwood Trust (NYSE:RWT) Price Target to $7.50

Redwood Trust (NYSE:RWT - Free Report) had its target price cut by JMP Securities from $8.00 to $7.50 in a research report report published on Thursday morning,Benzinga reports. They currently have a market outperform rating on the real estate investment trust's stock.

Several other equities research analysts have also issued reports on the stock. Jones Trading lowered their price target on shares of Redwood Trust from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. StockNews.com raised shares of Redwood Trust from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Redwood Trust from $6.50 to $5.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $7.50.

Redwood Trust Stock Performance

NYSE:RWT traded up $0.38 during midday trading on Thursday, reaching $5.85. The stock had a trading volume of 1,380,975 shares, compared to its average volume of 956,048. The stock has a market capitalization of $777.29 million, a P/E ratio of 17.71 and a beta of 1.15. The company has a debt-to-equity ratio of 14.09, a current ratio of 44.36 and a quick ratio of 44.36. Redwood Trust has a 1-year low of $4.68 and a 1-year high of $8.15. The firm's fifty day simple moving average is $6.03 and its 200-day simple moving average is $6.62.

Redwood Trust (NYSE:RWT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The real estate investment trust reported $0.13 earnings per share 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 business had revenue of $27.60 million for the quarter, compared to analyst estimates of $26.00 million. On average, equities research analysts forecast that Redwood Trust will post 0.78 EPS for the current fiscal year.

Redwood Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a $0.18 dividend. The ex-dividend date was Monday, March 24th. This represents a $0.72 annualized dividend and a yield of 12.32%. Redwood Trust's dividend payout ratio (DPR) is presently 218.18%.

Institutional Trading of Redwood Trust

A number of large investors have recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC acquired a new position in Redwood Trust in the fourth quarter valued at about $37,000. Sovran Advisors LLC bought a new stake in Redwood Trust during the 4th quarter worth approximately $63,000. KBC Group NV raised its holdings in Redwood Trust by 86.7% during the 4th quarter. KBC Group NV now owns 10,313 shares of the real estate investment trust's stock worth $67,000 after buying an additional 4,788 shares during the period. Zacks Investment Management bought a new stake in shares of Redwood Trust during the fourth quarter worth $74,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Redwood Trust during the fourth quarter worth $80,000. Institutional investors own 74.34% of the company's stock.

Redwood Trust Company Profile

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.