Market Overview

UPDATE: Sterne Agee Upgrades Anworth Mortgage Asset Corp to Buy on Relative Valuation

Related ANH
2 Small-Cap mREITs & 3 Top High-Yield Picks From Credit Suisse
Anworth Announces Increase to Series B Preferred Stock Conversion Rate

Sterne Agee upgraded its rating on Anworth Mortgage Asset Corp (NYSE: ANH) from Neutral to Buy with a price target of $7.20.

Sterne Agee commented, "We are upgrading the shares of Anworth Mortgage from NEUTRAL to BUY and establishing a $7.20 price target. Our change in rating is based in most part on our expectation that the shares should trade much closer to net asset value and that the company will be able to maintain (already reduced) dividends at their current level of $0.18. Accordingly, our $7.20 price target is based on 1x 6/30/12 book value, which we believe has increased to date on hybrid RMBS appreciation."

Anworth Mortgage Asset Corp closed at $6.63 on Wednesday.

Latest Ratings for ANH

Aug 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Jun 2015Credit SuisseReinstatesNeutral
May 2015Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for ANH
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


Related Articles (ANH)

View Comments and Join the Discussion!

Get Benzinga's Newsletters