JPMorgan cuts price targets across the mREIT (REM +1.2%) sector, but the move is one of catching up to the action rather than a call on prospects going forward. "We believe consensus forecasts for higher rates are already priced into current valuations." Those cut: NLY, WMC, AMTG, MFA. Apollo retains its Overweight rating (the others are Neutral) as it and Western Asset have additional hedges in place to mitigate losses on MBS.
JPMorgan cuts price targets across the mREIT (REM +1.2%) sector, but the move is one of catching...
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