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

Redwood Trust (NYSE:RWT) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $7.00 to $6.50 in a research note issued 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 suggests a potential upside of 0.08% from the stock’s previous close.

Several other research analysts also recently commented on RWT. StockNews.com upgraded Redwood Trust from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. JMP Securities lifted their target price on Redwood Trust from $8.50 to $9.00 and gave the stock a “market outperform” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.97.

Redwood Trust Stock Performance

Shares of NYSE RWT opened at $6.50 on Tuesday. The company has a current ratio of 44.36, a quick ratio of 44.36 and a debt-to-equity ratio of 14.55. Redwood Trust has a 12 month low of $5.45 and a 12 month high of $8.15. The stock has a 50 day moving average of $6.80 and a 200-day moving average of $7.18. The company has a market capitalization of $860.72 million, a P/E ratio of 11.81 and a beta of 1.57.

Hedge Funds Weigh In On Redwood Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new position in Redwood Trust in the 3rd quarter valued at $39,000. GAMMA Investing LLC raised its holdings in Redwood Trust by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,169 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 2,043 shares in the last quarter. Creative Planning acquired a new position in Redwood Trust in the 3rd quarter valued at $91,000. Verition Fund Management LLC acquired a new position in Redwood Trust in the 3rd quarter valued at $101,000. Finally, Algert Global LLC acquired a new position in Redwood Trust in the 2nd quarter valued at $86,000. 74.34% of the stock is owned by institutional investors and hedge funds.

Redwood Trust Company Profile

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.