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Compass Point downgrades Sutherland Asset Management to 'neutral'

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Compass Point downgrades Sutherland Asset Management to 'neutral'

Compass Point analyst Scott Valentin downgraded Sutherland Asset Management Corp.'s stock rating to "neutral" from "buy" on valuation and raised the price target to $16.50 from $16.

The analyst, as a result of Sutherland Asset's second-quarter EPS beat, increased Sutherland Asset's adjusted EPS estimate to $1.79 from $1.65 for 2018, and maintained adjusted EPS estimate of $1.76 for 2019.

The analyst wrote that while Sutherland Asset's quarterly results are more volatile than a typical real estate investment trust due to a significant percentage of revenue being derived from gain on sale revenue, the company "possesses unique attributes that make the shares worth holding for REIT investors."