Compass Point downgraded shares of Sutherland Asset Management (NYSE:SLD) from a buy rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports.
Several other equities research analysts also recently weighed in on SLD. ValuEngine downgraded shares of Sutherland Asset Management from a buy rating to a hold rating in a research note on Friday, April 13th. B. Riley set a $17.00 price target on shares of Sutherland Asset Management and gave the stock a buy rating in a report on Thursday, May 10th. Zacks Investment Research upgraded shares of Sutherland Asset Management from a hold rating to a buy rating and set a $17.00 price target for the company in a report on Saturday, May 12th. Raymond James assumed coverage on shares of Sutherland Asset Management in a report on Monday, July 30th. They set an outperform rating and a $18.00 price target for the company. Finally, JMP Securities boosted their price target on shares of Sutherland Asset Management from $17.00 to $18.00 and gave the stock a market outperform rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Sutherland Asset Management currently has a consensus rating of Buy and a consensus target price of $17.58.
Shares of Sutherland Asset Management traded down $0.15, reaching $16.40, on Thursday, MarketBeat.com reports. The company had a trading volume of 28,116 shares, compared to its average volume of 38,460. The company has a market capitalization of $530.46 million, a price-to-earnings ratio of 9.85 and a beta of 0.67. Sutherland Asset Management has a 52-week low of $13.55 and a 52-week high of $16.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.00 and a current ratio of 1.95.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th were issued a $0.40 dividend. This is a boost from Sutherland Asset Management’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 9.76%. Sutherland Asset Management’s dividend payout ratio is presently 112.68%.
Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in Sutherland Asset Management in the 2nd quarter valued at $895,000. BlackRock Inc. raised its position in Sutherland Asset Management by 6.1% in the 2nd quarter. BlackRock Inc. now owns 1,470,669 shares of the real estate investment trust’s stock valued at $23,898,000 after purchasing an additional 84,118 shares during the last quarter. Martingale Asset Management L P purchased a new stake in Sutherland Asset Management in the 2nd quarter valued at $394,000. TCW Group Inc. raised its position in Sutherland Asset Management by 14.1% in the 2nd quarter. TCW Group Inc. now owns 532,525 shares of the real estate investment trust’s stock valued at $8,654,000 after purchasing an additional 66,000 shares during the last quarter. Finally, Assetmark Inc. raised its position in Sutherland Asset Management by 63.2% in the 2nd quarter. Assetmark Inc. now owns 15,852 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 6,137 shares during the last quarter. Institutional investors and hedge funds own 30.60% of the company’s stock.
About Sutherland Asset Management
Sutherland Asset Management Corporation operates as a real estate finance company. The company acquires, originates, manages, services, and finances small balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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