Western Asset Mortgage Capital Corp. (WMC) Trading 7.5% Higher
Western Asset Mortgage Capital Corp. (NYSE:WMC) traded up 7.5% during mid-day trading on Friday . The company traded as high as $10.98 and last traded at $10.95, with a volume of 876,333 shares changing hands. The stock had previously closed at $10.19.
A number of equities research analysts have issued reports on the company. Wunderlich raised Western Asset Mortgage Capital Corp. from a “hold” rating to a “buy” rating and increased their price target for the company from $9.50 to $11.00 in a research report on Friday. Zacks Investment Research raised Western Asset Mortgage Capital Corp. from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, July 27th. Bank of America Corp. lowered Western Asset Mortgage Capital Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. Finally, Wells Fargo & Co. lowered Western Asset Mortgage Capital Corp. from a “market perform” rating to an “underperform” rating in a research report on Monday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.80.
The company’s 50-day moving average price is $9.67 and its 200-day moving average price is $9.74. The firm’s market cap is $456.50 million.
Western Asset Mortgage Capital Corp. (NYSE:WMC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.05. The business earned $21.50 million during the quarter, compared to analysts’ expectations of $33.92 million. The company’s revenue for the quarter was down 37.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. Analysts forecast that Western Asset Mortgage Capital Corp. will post $2.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 5th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.39%. The ex-dividend date of this dividend was Thursday, June 30th.
An institutional investor recently raised its position in Western Asset Mortgage Capital Corp. stock. Russell Frank Co boosted its position in shares of Western Asset Mortgage Capital Corp. (NYSE:WMC) by 287.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,797 shares of the company’s stock after buying an additional 167,508 shares during the period. Russell Frank Co owned about 0.54% of Western Asset Mortgage Capital Corp. worth $2,319,000 at the end of the most recent reporting period.
Western Asset Mortgage Capital Corporation is a real estate investment trust focused on investing in, financing and managing a portfolio of real estate related securities, whole-loans and other financial assets. The Company’s portfolio consists of Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)), Non-Agency RMBS, Agency and Non-Agency commercial mortgage-backed securities (CMBS), and Whole-Loans.
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