Western Asset Mortgage Capital Corp. (WMC) Trading Down 0.9%
Western Asset Mortgage Capital Corp. (NYSE:WMC) fell 0.9% during mid-day trading on Monday . The company traded as low as $10.75 and last traded at $10.90, with a volume of 338,792 shares trading hands. The stock had previously closed at $11.00.
A number of brokerages recently commented on WMC. Zacks Investment Research downgraded Western Asset Mortgage Capital Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Bank of America Corp. set a $11.00 price target on Western Asset Mortgage Capital Corp. and gave the company a “hold” rating in a report on Thursday, August 11th. 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 report on Friday, August 5th. Finally, Deutsche Bank AG increased their price target on Western Asset Mortgage Capital Corp. from $9.75 to $10.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Western Asset Mortgage Capital Corp. presently has a consensus rating of “Hold” and a consensus target price of $11.33.
The firm has a 50 day moving average price of $9.91 and a 200 day moving average price of $9.84. The company’s market cap is $455.24 million.
Western Asset Mortgage Capital Corp. (NYSE:WMC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.05. During the same quarter in the prior year, the business posted $0.76 EPS. The business earned $21.50 million during the quarter, compared to the consensus estimate of $33.92 million. Western Asset Mortgage Capital Corp.’s quarterly revenue was down 37.7% on a year-over-year basis. On average, equities analysts predict that Western Asset Mortgage Capital Corp. will post $2.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 5th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $1.24 annualized dividend and a yield of 11.42%.
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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