JPMorgan Chase & Co. Has Lowered Expectations for Redwood Trust (NYSE:RWT) Stock Price

Redwood Trust (NYSE:RWT) had its price objective lowered by analysts at JPMorgan Chase & Co. from $6.50 to $6.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 15.27% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. JonesTrading reaffirmed a “buy” rating and issued a $6.25 price objective on shares of Redwood Trust in a research note on Thursday, April 30th. Wall Street Zen upgraded Redwood Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research cut their target price 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. Keefe, Bruyette & Woods upgraded Redwood Trust from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $7.00 to $6.00 in a report on Thursday, July 9th. Finally, Citizens Jmp lowered their price target on Redwood Trust from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Redwood Trust presently has an average rating of “Moderate Buy” and an average target price of $6.11.

Redwood Trust Trading Up 2.9%

RWT opened at $5.21 on Friday. The firm has a market cap of $651.77 million, a P/E ratio of -6.67 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. The stock has a 50-day moving average of $5.11 and a 200 day moving average of $5.55.

Institutional Investors Weigh In On Redwood Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tran Capital Management L.P. purchased a new position in Redwood Trust during the 4th quarter valued at $2,947,000. Evergreen Capital Management LLC increased its stake in Redwood Trust by 52.8% in the fourth quarter. Evergreen Capital Management LLC now owns 1,674,009 shares of the real estate investment trust’s stock worth $9,257,000 after purchasing an additional 578,301 shares during the period. UBS Group AG lifted its position in shares of Redwood Trust by 521.1% during the fourth quarter. UBS Group AG now owns 3,875,226 shares of the real estate investment trust’s stock worth $21,430,000 after purchasing an additional 3,251,302 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Redwood Trust during the first quarter worth $876,000. Finally, Clearstead Advisors LLC lifted its position in shares of Redwood Trust by 192.5% during the fourth quarter. Clearstead Advisors LLC now owns 5,428 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 3,572 shares during the last quarter. 74.34% of the stock is owned by institutional investors.

About Redwood Trust

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.