JMP Securities Increases Redwood Trust (NYSE:RWT) Price Target to $9.00

Redwood Trust (NYSE:RWT) had its price objective boosted by JMP Securities from $8.00 to $9.00 in a report issued on Friday morning, MarketBeat.com reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. StockNews.com assumed coverage on Redwood Trust in a research note on Thursday, August 17th. They issued a hold rating on the stock. Piper Sandler cut Redwood Trust from an overweight rating to a neutral rating and set a $7.00 target price on the stock. in a research report on Thursday, June 15th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Redwood Trust has an average rating of Moderate Buy and an average target price of $8.56.

Redwood Trust Trading Down 1.1 %

RWT opened at $7.77 on Friday. Redwood Trust has a 52 week low of $5.47 and a 52 week high of $8.72. The business has a fifty day simple moving average of $7.51 and a 200-day simple moving average of $6.79. The firm has a market cap of $887.07 million, a P/E ratio of -9.47 and a beta of 1.38. The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 9.44.

Redwood Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 22nd will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.64 annualized dividend and a dividend yield of 8.24%. Redwood Trust’s dividend payout ratio is currently -78.05%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky boosted its position in Redwood Trust by 6.1% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 35,659 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 2,050 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Redwood Trust during the 2nd quarter worth $141,000. Caxton Associates LP purchased a new stake in Redwood Trust during the 2nd quarter worth $1,184,000. Bayesian Capital Management LP purchased a new stake in Redwood Trust during the 2nd quarter worth $102,000. Finally, State of Wyoming purchased a new position in Redwood Trust in the 2nd quarter valued at about $142,000. 69.94% of the stock is currently owned by institutional investors and hedge funds.

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 Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential 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.