Exantas Capital (XAN) Upgraded to “Buy” at Zacks Investment Research

Exantas Capital (NYSE:XAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $13.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 16.59% from the stock’s current price.

According to Zacks, “Exantas Capital Corp. operates as a real estate investment trust. It provides commercial real estate loans and credit investments such as commercial mortgage-backed securities. Exantas Capital Corp., formerly known as Resource Capital Corp., is based in New York, United States. “

XAN has been the topic of a number of other reports. Raymond James assumed coverage on Exantas Capital in a research note on Monday, July 30th. They set an “outperform” rating and a $12.00 price objective on the stock. JMP Securities raised their price objective on Exantas Capital from $12.00 to $12.50 and gave the company a “market outperform” rating in a research note on Thursday, August 9th. BTIG Research assumed coverage on Exantas Capital in a research note on Monday, October 8th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, ValuEngine raised Exantas Capital from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $12.63.

Shares of NYSE:XAN opened at $11.15 on Friday. Exantas Capital has a 12-month low of $8.51 and a 12-month high of $12.09. The stock has a market cap of $352.98 million, a PE ratio of 1,115.00 and a beta of 0.73. The company has a current ratio of 166.87, a quick ratio of 166.86 and a debt-to-equity ratio of 2.37.

Exantas Capital (NYSE:XAN) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. Exantas Capital had a return on equity of 0.55% and a net margin of 29.89%. The firm had revenue of $14.51 million for the quarter, compared to analysts’ expectations of $14.60 million. As a group, analysts anticipate that Exantas Capital will post 0.62 EPS for the current year.

Several institutional investors have recently bought and sold shares of XAN. BlackRock Inc. purchased a new stake in shares of Exantas Capital during the second quarter worth about $29,205,000. Forward Management LLC purchased a new stake in shares of Exantas Capital during the second quarter worth about $9,445,000. Acadian Asset Management LLC boosted its holdings in shares of Exantas Capital by 459.5% during the third quarter. Acadian Asset Management LLC now owns 964,819 shares of the company’s stock worth $10,594,000 after purchasing an additional 792,387 shares during the period. Northern Trust Corp purchased a new stake in shares of Exantas Capital during the second quarter worth about $3,703,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Exantas Capital during the second quarter worth about $2,972,000. Institutional investors own 52.42% of the company’s stock.

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, such as first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine debt, and commercial mortgage-backed securities.

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