UPDATE: Deutsche Bank Lowers PT on American Capital Mortgage Investment Following 2Q Dividend Cut
In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on American Capital Mortgage Investment (NASDAQ: MTGE), but lowered the price target from $26.75 to $25.25.
In the report, Deutsche Bank noted, “MTGE cuts 2Q dividend by 10c to 80c per share - The 2Q dividend of 80c per share decreased sequentially from 90c and was below our 90c estimate. We expected 2Q adjusted core earnings to be in line with the previous dividend level and believed the dividend would be maintained, especially given undistributed taxable income (UTI) of 45c per share at 3/31. The dividend is payable on July 26 to shareholders of record on June 28. The ex-dividend date is June 26.”
American Capital Mortgage Investment closed on Tuesday at $20.31.
Latest Ratings for MTGE
|May 2015||Keefe Bruyette & Woods||Maintains||Outperform|
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