Zacks Investment Research Lowers Sutherland Asset Management (SLD) to Hold
Sutherland Asset Management (NYSE:SLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
SLD has been the subject of a number of other research reports. JMP Securities assumed coverage on Sutherland Asset Management in a research report on Friday, January 5th. They set an “outperform” rating and a $17.00 price target for the company. Keefe, Bruyette & Woods began coverage on Sutherland Asset Management in a research report on Thursday, September 28th. They set a “market perform” rating and a $16.00 price target for the company. Finally, B. Riley reiterated a “buy” rating on shares of Sutherland Asset Management in a research note on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Sutherland Asset Management currently has a consensus rating of “Buy” and an average target price of $16.50.
Sutherland Asset Management (NYSE:SLD) remained flat at $$15.05 during trading hours on Wednesday. The company had a trading volume of 63,900 shares, compared to its average volume of 73,217. Sutherland Asset Management has a 1 year low of $13.00 and a 1 year high of $16.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.45 and a current ratio of 2.45. The stock has a market cap of $481.55, a price-to-earnings ratio of 7.76 and a beta of 0.72.
Institutional investors have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its stake in shares of Sutherland Asset Management by 24.3% during the 3rd quarter. Eqis Capital Management Inc. now owns 18,809 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 3,671 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Sutherland Asset Management during the 2nd quarter worth approximately $446,000. Vanguard Group Inc. raised its stake in shares of Sutherland Asset Management by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 584,411 shares of the real estate investment trust’s stock worth $8,678,000 after purchasing an additional 51,266 shares in the last quarter. Northern Trust Corp raised its stake in shares of Sutherland Asset Management by 965.2% during the 2nd quarter. Northern Trust Corp now owns 180,005 shares of the real estate investment trust’s stock worth $2,674,000 after purchasing an additional 163,107 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Sutherland Asset Management during the 2nd quarter worth approximately $265,000. Institutional investors own 30.43% of the company’s stock.
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Sutherland Asset Management 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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