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Fly News Breaks for March 4, 2019
RWT
Mar 4, 2019 | 07:08 EDT
JMP Securities analyst Steven DeLaney upgraded Redwood Trust to Outperform from Market Perform and set a $17 price target on the shares, telling investors that he consider the current valuation an unwarranted discount to hybrid MREIT peers. He also said that based on management commentary in the QQ4 shareholder letter that it appears providing a sustainably higher dividend payout is a priority for new management.
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