Sutherland Asset Management Corporation Announces Fourth Quarter 2016 Results

During the first quarter of 2017, the Company's Board of Directors declared a quarterly cash dividend increase of 5.7% to $0.37 per share of common stock and operating partnership unit ("OP unit") in its operating partnership subsidiary for the quarter ended March 31, 2017 to common shareholders and OP unit holders of record as of March 31, 2017.  The dividend is payable on April 14, 2017.  The ex-dividend date is March 29, 2017. 

During the fourth quarter of 2016, the Company's Board of Directors declared a quarterly cash dividend of $0.35 per share of common stock and OP unit for the quarter ended December 31, 2016 to common stockholders and OP unit holders of record as of December 30, 2016.  The dividend was paid on January 27, 2017.  

Use of Non-GAAP Financial Information

In addition to the results presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), this press release includes Core Earnings which is a non-U.S. GAAP financial measure. The Company defines Core Earnings as net income adjusted for unrealized or realized gains (losses) related to mortgage backed securities, unrealized gains (losses) related to residential mortgage servicing rights, bargain purchase gains, losses on discontinued operations and non-recurring expenses.

The Company believes that providing investors with this non-U.S. GAAP financial information, in addition to the related U.S. GAAP measures, gives investors greater transparency into the information used by management in its financial and operational decision-making. However, because Core Earnings is an incomplete measure of the Company's financial performance and involves differences from net income computed in accordance with U.S. GAAP, it should be considered along with, but not as an alternative to, the Company's net income computed in accordance with U.S. GAAP as a measure of the Company's financial performance. In addition, because not all companies use identical calculations, the Company's presentation of Core Earnings may not be comparable to other similarly-titled measures of other companies.

The following table reconciles net income computed in accordance with U.S. GAAP to Core Earnings for the three months ended December 31, 2016:

Webcast and Earnings Conference Call

Management will host a webcast and conference call on Tuesday, March 14, 2017 at 5:00 pm ET to provide a general business update and discuss the financial results for the quarter ended December 31, 2016.  The webcast is available in the Investor Relations section of the Company's website at www.sutherlandam.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. The conference call can be accessed by dialing (877) 604-9673. 

A replay of the call will also be available on the Investor Relations section of the Company's website at www.sutherlandam.com. A replay of the call will be available approximately two hours after the live call and will be available through March 28, 2017.  To access the replay, dial (844) 512-2921.  The replay pin number is 6056621.

Safe Harbor Statement

This press release contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, applicable regulatory changes; general volatility of the capital markets; changes in the Company's investment objectives and business strategy; the availability of financing on acceptable terms or at all; the availability, terms and deployment of capital; the availability of suitable investment opportunities; changes in the interest rates or the general economy; increased rates of default and/or decreased recovery rates on investments; changes in interest rates, interest rate spreads, the yield curve or prepayment rates; changes in prepayments of Company's assets; the degree and nature of competition, including competition for the Company's target assets; and other factors, including those set forth in the Risk Factors section of the Company's Registration Statement on Form S-4, the most recent Annual Report on Form 10-K filed with the SEC, and other reports filed by the Company with the SEC, copies of which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Investor Relations: 
Bevin Black 
BBlack@waterfallam.com 
212-257-4629

Additional information can be found on the Company's website at www.sutherlandam.com.

SUTHERLAND ASSET MANAGEMENT CORPORATION
UNAUDITED CONSOLIDATED BALANCE SHEETS
(In Thousands)		December 31, 2016			December 31, 2015
Assets:
Cash and cash equivalents		$	59,566		$	41,569
Restricted cash			20,190			14,757
Short-term investments			319,984			249,989
Loans, held-for-investment (net of allowances for loan losses of $12,721  at December 31, 2016 and $12,255 at December 31, 2015)			929,529			927,218
Loans, held at fair value			81,592			155,134
Loans, held for sale, at fair value			181,797			—
Mortgage backed securities, at fair value			32,391			213,504
Loans eligible for repurchase from Ginnie Mae			137,986			—
Real estate acquired in settlement of loans			3,933			8,224
Derivative instruments, at fair value			5,785			723
Servicing rights			22,478			27,250
Residential mortgage servicing rights, at fair value			61,376			—
Intangible assets			3,636			1,000
Other assets			53,928 Werbung Mehr Nachrichten zur Sutherland Asset Management Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 19.04.24 - PR Newswire Rightmove Plc - Transaction in Own Shares 19.04.24 - PR Newswire KR1 Plc - Investment: Mode Network 19.04.24 - PR Newswire Stellar Asset Management Ltd - Form 8.3 - Equals Group Plc Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59