Redwood Trust (NYSE:RWT) Price Target Cut to $6.50 by Analysts at JPMorgan Chase & Co.

Redwood Trust (NYSE:RWT) had its target price reduced by research analysts at JPMorgan Chase & Co. from $7.00 to $6.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 0.08% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Redwood Trust from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. JMP Securities raised their price target on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Redwood Trust has a consensus rating of “Moderate Buy” and a consensus price target of $7.97.

Redwood Trust Trading Up 1.0 %

NYSE RWT opened at $6.50 on Tuesday. The firm has a market cap of $860.72 million, a P/E ratio of 11.81 and a beta of 1.57. The company has a debt-to-equity ratio of 14.55, a current ratio of 44.36 and a quick ratio of 44.36. The stock’s 50-day moving average is $6.80 and its 200-day moving average is $7.18. Redwood Trust has a one year low of $5.45 and a one year high of $8.15.

Institutional Investors Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new stake in Redwood Trust in the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC increased its position in shares of Redwood Trust by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,043 shares during the last quarter. Algert Global LLC acquired a new position in shares of Redwood Trust during the 2nd quarter worth approximately $86,000. Creative Planning acquired a new position in shares of Redwood Trust during the 3rd quarter worth approximately $91,000. Finally, Verition Fund Management LLC acquired a new position in shares of Redwood Trust during the 3rd quarter worth approximately $101,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

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 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.