Citizens Jmp Cuts Redwood Trust (NYSE:RWT) Price Target to $6.00

by · The Markets Daily

Redwood Trust (NYSE:RWT – Get Free Report) had its price target reduced by Citizens Jmp from $7.00 to $6.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price target suggests a potential upside of 27.25% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Zacks Research cut Redwood Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. BTIG Research decreased their price target on Redwood Trust from $8.50 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Redwood Trust in a report on Wednesday, June 24th. JonesTrading restated a “buy” rating and issued a $6.25 price objective on shares of Redwood Trust in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Redwood Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.25.

View Our Latest Analysis on Redwood Trust

Redwood Trust Stock Performance

Shares of RWT stock opened at $4.71 on Wednesday. The firm’s 50 day moving average is $5.19 and its 200 day moving average is $5.58. The stock has a market capitalization of $590.41 million, a P/E ratio of -6.04 and a beta of 1.37. Redwood Trust has a 12 month low of $4.19 and a 12 month high of $6.97. The company has a current ratio of 59.63, a quick ratio of 59.63 and a debt-to-equity ratio of 28.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vident Advisory LLC increased its position in shares of Redwood Trust by 4.7% in the fourth quarter. Vident Advisory LLC now owns 39,606 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 1,773 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Redwood Trust by 18.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,113 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 2,363 shares in the last quarter. Inceptionr LLC grew its stake in Redwood Trust by 10.7% in the 3rd quarter. Inceptionr LLC now owns 26,377 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 2,560 shares in the last quarter. Choreo LLC increased its holdings in shares of Redwood Trust by 29.4% in the 4th quarter. Choreo LLC now owns 13,893 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 3,158 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Redwood Trust by 192.5% during the 4th quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 3,572 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

About Redwood Trust

(Get Free Report)

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.

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