Exantas Capital Corp (NYSE:XAN) declared a quarterly dividend on Wednesday, June 12th, NASDAQ reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.225 per share on Friday, July 26th. This represents a $0.90 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Exantas Capital’s previous quarterly dividend of $0.20.
Exantas Capital has a dividend payout ratio of 84.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Exantas Capital to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 81.8%.
NYSE:XAN traded up $0.02 on Tuesday, reaching $11.22. The stock had a trading volume of 2,771 shares, compared to its average volume of 127,404. The company has a current ratio of 237.84, a quick ratio of 237.84 and a debt-to-equity ratio of 2.90. The stock’s 50-day moving average price is $11.15. The company has a market cap of $356.99 million, a PE ratio of 15.79 and a beta of 0.74. Exantas Capital has a 12-month low of $9.72 and a 12-month high of $12.09.
A number of brokerages have recently issued reports on XAN. Zacks Investment Research upgraded shares of Exantas Capital from a “sell” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Saturday, May 11th. ValuEngine lowered shares of Exantas Capital from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Deutsche Bank upgraded shares of Exantas Capital from a “hold” rating to a “buy” rating and set a $11.54 price objective on the stock in a research note on Thursday, May 2nd. Finally, TheStreet upgraded shares of Exantas Capital from a “d+” rating to a “c” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.41.
About Exantas Capital
Exantas Capital Corp., a real estate investment trust, primarily focuses on the origination, holding, and management of commercial mortgage loans and commercial real estate-related debt investments in the United States. It invests in commercial real estate-related assets, including first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine debt, preferred equity investments related to commercial real estate (CRE), commercial mortgage-backed securities, and CRE equity investments.
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