Zacks Investment Research upgraded shares of Sutherland Asset Management (NYSE:SLD) from a hold rating to a buy rating in a research note released on Friday, January 5th. The firm currently has $17.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Sutherland Asset Management Corporation is a commercial mortgage REIT. The company is a real estate finance company which acquires, originates, manages, services and finances primarily small balance commercial loans. It also invests in asset-backed securities and other real estate-related investments. Sutherland Asset Management Corporation, formerly known as ZAIS Financial Corp., is based in New York. “
A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods initiated coverage on Sutherland Asset Management in a report on Thursday, September 28th. They set a market perform rating and a $16.00 price objective on the stock. B. Riley reaffirmed a buy rating on shares of Sutherland Asset Management in a report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $16.50.
Shares of Sutherland Asset Management (NYSE SLD) opened at $15.20 on Friday. Sutherland Asset Management has a 52 week low of $13.00 and a 52 week high of $16.20. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $486.35, a P/E ratio of 7.84 and a beta of 0.72.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 9.74%. The ex-dividend date of this dividend is Thursday, December 28th. Sutherland Asset Management’s dividend payout ratio (DPR) is 76.29%.
Institutional investors have recently bought and sold shares of the business. Eqis Capital Management Inc. boosted its stake in shares of Sutherland Asset Management by 24.3% during the third quarter. Eqis Capital Management Inc. now owns 18,809 shares of the real estate investment trust’s stock valued at $295,000 after acquiring an additional 3,671 shares during the last quarter. Morgan Stanley boosted its stake in shares of Sutherland Asset Management by 1,538.6% during the first quarter. Morgan Stanley now owns 75,803 shares of the real estate investment trust’s stock valued at $1,095,000 after acquiring an additional 71,177 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Sutherland Asset Management during the second quarter valued at $446,000. Vanguard Group Inc. boosted its stake in shares of Sutherland Asset Management by 9.6% during the second quarter. Vanguard Group Inc. now owns 584,411 shares of the real estate investment trust’s stock valued at $8,678,000 after acquiring an additional 51,266 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Sutherland Asset Management by 965.2% during the second quarter. Northern Trust Corp now owns 180,005 shares of the real estate investment trust’s stock valued at $2,674,000 after acquiring an additional 163,107 shares during the last quarter. 30.43% of the stock is currently owned by institutional investors.
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About Sutherland Asset Management
Sutherland Asset Management Corporation, formerly ZAIS Financial Corp., is a diversified mortgage real estate investment trust (REIT). The Company originates, acquires, finances, services and manages small balance commercial loans (SBC) and Small Business Administration (SBA) loans. The Company focuses on maintaining its existing residential mortgage origination platform, GMFS.
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