Sutherland Asset Management Corp. (SLD) Upgraded at Zacks Investment Research
Sutherland Asset Management Corp. (NYSE:SLD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Separately, FBR & Co raised their target price on shares of Sutherland Asset Management Corp. from $14.00 to $15.50 and gave the stock a “mkt perform” rating in a report on Thursday, May 25th.
Sutherland Asset Management Corp. (NYSE:SLD) traded down 1.57% during midday trading on Thursday, hitting $15.70. The stock had a trading volume of 573,597 shares. The firm has a 50-day moving average of $15.12 and a 200 day moving average of $14.69. Sutherland Asset Management Corp. has a 52-week low of $12.40 and a 52-week high of $16.05. The firm has a market capitalization of $502.34 million, a P/E ratio of 8.74 and a beta of 0.68.
Sutherland Asset Management Corp. (NYSE:SLD) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Sutherland Asset Management Corp. had a net margin of 42.38% and a return on equity of 8.19%. The firm had revenue of $6.92 million during the quarter, compared to analysts’ expectations of $16.68 million. On average, equities analysts forecast that Sutherland Asset Management Corp. will post $1.37 EPS for the current year.
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Several institutional investors have recently modified their holdings of the stock. Archford Capital Strategies LLC increased its holdings in Sutherland Asset Management Corp. by 3,336.4% in the second quarter. Archford Capital Strategies LLC now owns 81,167 shares of the real estate investment trust’s stock valued at $8,951,000 after buying an additional 78,805 shares in the last quarter. California State Teachers Retirement System purchased a new position in Sutherland Asset Management Corp. in the second quarter valued at $446,000. The Manufacturers Life Insurance Company increased its holdings in Sutherland Asset Management Corp. by 997.5% in the second quarter. The Manufacturers Life Insurance Company now owns 15,299 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 13,905 shares in the last quarter. State Street Corp purchased a new position in Sutherland Asset Management Corp. in the second quarter valued at $2,808,000. Finally, Balyasny Asset Management LLC purchased a new position in Sutherland Asset Management Corp. in the second quarter valued at $155,000. 30.22% of the stock is owned by hedge funds and other institutional investors.
Sutherland Asset Management Corp. Company Profile
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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