Sutherland Asset Management Corp. (SLD) Announces $0.37 Quarterly Dividend
Sutherland Asset Management Corp. (NYSE:SLD) announced a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.37 per share by the real estate investment trust on Friday, October 20th. This represents a $1.48 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date of this dividend is Thursday, September 28th.
Sutherland Asset Management Corp. has a payout ratio of 109.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sutherland Asset Management Corp. to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 91.9%.
Shares of Sutherland Asset Management Corp. (NYSE SLD) traded up 1.108% during mid-day trading on Thursday, reaching $15.975. The company’s stock had a trading volume of 81,355 shares. Sutherland Asset Management Corp. has a 12 month low of $12.40 and a 12 month high of $16.05. The firm has a market cap of $511.14 million, a price-to-earnings ratio of 8.890 and a beta of 0.68. The company’s 50-day moving average is $15.02 and its 200 day moving average is $14.66.
Sutherland Asset Management Corp. (NYSE:SLD) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $6.92 million during the quarter, compared to the consensus estimate of $16.68 million. Sutherland Asset Management Corp. had a net margin of 42.38% and a return on equity of 8.19%. On average, equities analysts anticipate that Sutherland Asset Management Corp. will post $1.37 EPS for the current year.
A hedge fund recently bought a new stake in Sutherland Asset Management Corp. stock. State Street Corp acquired a new stake in Sutherland Asset Management Corp. (NYSE:SLD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 189,169 shares of the real estate investment trust’s stock, valued at approximately $2,808,000. State Street Corp owned 0.59% of Sutherland Asset Management Corp. at the end of the most recent quarter. Institutional investors and hedge funds own 30.22% of the company’s stock.
SLD has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Sutherland Asset Management Corp. from a “sell” rating to a “hold” rating in a research report on Thursday. FBR & Co upgraded shares of Sutherland Asset Management Corp. from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $15.50 to $16.00 in a research report on Monday, August 7th.
About Sutherland Asset Management Corp.
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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