Deutsche Bank Maintains Buy, $22.75 Target on Alexander Mortgage

Deutsche Bank reiterates its Buy rating and $22.75 target price on Alexander Mortgage

as the company declares an above-estimates dividend for 4Q. Deutsche Bank notes, "Last week, AG Mortgage declared a 4Q dividend of $0.70 pare share, which was above our $0.65 per share estimate and up sequentially from $0.40 per share. The sequential dividend increase results from the company benefitting from having a fully ramped portfolio for the full quarter. The upside to our estimate was likely a result of higher-than-expected leverage employed during the quarter or slightly wider spreads." MITT closed at $20.23 per share on Monday.