Redwood Trust (NYSE:RWT) Upgraded at JPMorgan Chase & Co.

Redwood Trust (NYSE:RWT) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The brokerage presently has a $6.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.38% from the stock’s current price.

Several other research firms also recently issued reports on RWT. Jones Trading dropped their target price on Redwood Trust from $7.00 to $6.25 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Wall Street Zen downgraded shares of Redwood Trust from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. BTIG Research reaffirmed a “buy” rating and issued a $8.50 target price on shares of Redwood Trust in a research note on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Redwood Trust in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Redwood Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.75.

Redwood Trust Price Performance

Shares of NYSE RWT opened at $5.64 on Friday. The firm’s 50-day simple moving average is $5.54 and its 200 day simple moving average is $5.72. Redwood Trust has a fifty-two week low of $4.68 and a fifty-two week high of $6.73. The stock has a market cap of $714.48 million, a price-to-earnings ratio of -6.96 and a beta of 1.58. The company has a debt-to-equity ratio of 22.73, a quick ratio of 57.77 and a current ratio of 57.77.

Redwood Trust (NYSE:RWT) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Redwood Trust had a negative net margin of 8.62% and a positive return on equity of 9.19%. The business had revenue of $54.37 million during the quarter, compared to the consensus estimate of $31.04 million. As a group, research analysts anticipate that Redwood Trust will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of Redwood Trust

A number of hedge funds have recently bought and sold shares of the company. CWM LLC lifted its position in Redwood Trust by 270.5% during the second quarter. CWM LLC now owns 6,168 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 4,503 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Redwood Trust by 331.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,915 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,082 shares during the last quarter. Westbourne Investments Inc. bought a new position in Redwood Trust during the fourth quarter valued at $55,000. GAMMA Investing LLC boosted its holdings in shares of Redwood Trust by 71.6% in the 4th quarter. GAMMA Investing LLC now owns 11,054 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 4,611 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Redwood Trust by 136.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,823 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 6,255 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Redwood Trust Company Profile

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.