Alliancebernstein L.P. reduced its position in shares of Western Asset Mortgage Capital Corporation (NYSE:WMC) by 19.5% during the first quarter, Holdings Channel reports. The firm owned 33,400 shares of the financial services provider’s stock after selling 8,100 shares during the period. Alliancebernstein L.P.’s holdings in Western Asset Mortgage Capital Corporation were worth $326,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Western Asset Mortgage Capital Corporation by 4.6% in the fourth quarter. State Street Corp now owns 808,876 shares of the financial services provider’s stock worth $8,142,000 after buying an additional 35,337 shares during the period. Prudential Financial Inc. boosted its stake in shares of Western Asset Mortgage Capital Corporation by 40.4% in the first quarter. Prudential Financial Inc. now owns 248,875 shares of the financial services provider’s stock worth $2,432,000 after buying an additional 71,600 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Western Asset Mortgage Capital Corporation by 22.2% in the first quarter. Parametric Portfolio Associates LLC now owns 213,556 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 38,849 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Western Asset Mortgage Capital Corporation by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 204,291 shares of the financial services provider’s stock worth $1,996,000 after buying an additional 13,287 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Western Asset Mortgage Capital Corporation by 8.5% in the first quarter. Wells Fargo & Company MN now owns 108,839 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 8,507 shares during the period. 38.01% of the stock is owned by institutional investors.

Shares of Western Asset Mortgage Capital Corporation (WMC) opened at 10.65 on Monday. The company has a market capitalization of $446.44 million, a PE ratio of 12.97 and a beta of 0.72. The company’s 50-day moving average price is $10.37 and its 200-day moving average price is $10.21. Western Asset Mortgage Capital Corporation has a 1-year low of $9.43 and a 1-year high of $11.18.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, June 30th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.24 dividend on an annualized basis and a yield of 11.79%. Western Asset Mortgage Capital Corporation’s payout ratio is currently 151.22%.

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WMC has been the subject of a number of recent analyst reports. BidaskClub cut Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research raised Western Asset Mortgage Capital Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. JMP Securities began coverage on Western Asset Mortgage Capital Corporation in a research note on Tuesday, July 25th. They set a “market perform” rating for the company. Finally, TheStreet raised Western Asset Mortgage Capital Corporation from a “d” rating to a “c” rating in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $10.67.

In other news, insider Jennifer Murphy acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average price of $10.22 per share, for a total transaction of $51,100.00. Following the completion of the acquisition, the insider now directly owns 37,500 shares in the company, valued at approximately $383,250. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

Western Asset Mortgage Capital Corporation Company Profile

Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.

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Institutional Ownership by Quarter for Western Asset Mortgage Capital Corporation (NYSE:WMC)

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