Loading...
Loading...
Compass Point reduced its rating on American Capital Mortgage
MTGE from Buy to Neutral on a more balanced outlook, but raised its price target from $20 to $23.
Compass Point said, "While MTGE's current valuation is not approaching secular peak valuations reached by other mREITs in prior cycles, we believe that given current headwinds facing Agency mREITs a more cautious approach is necessary. We see no near term risk to the dividend and current shareholders are being paid a handsome yield (14.5%) to own the shares in the current environment."
American Capital Mortgage closed at $24.81 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in