Western Asset Mortgage Capital Corp (NYSE:WMC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or federally chartered corporation. Western Asset Mortgage Capital Corporation is headquartered in Pasadena, California. “

Separately, TheStreet upgraded shares of Western Asset Mortgage Capital Corp from a “d” rating to a “c” rating in a report on Thursday, May 4th. Five analysts have rated the stock with a hold rating, Western Asset Mortgage Capital Corp presently has an average rating of “Hold” and an average price target of $10.40.

Shares of Western Asset Mortgage Capital Corp (NYSE:WMC) traded up 0.50% during mid-day trading on Wednesday, hitting $9.98. 78,646 shares of the stock traded hands. The firm has a market cap of $418.35 million, a price-to-earnings ratio of 13.34 and a beta of 0.73. Western Asset Mortgage Capital Corp has a 12-month low of $8.71 and a 12-month high of $11.18. The firm’s 50 day moving average price is $10.13 and its 200 day moving average price is $10.25.

Western Asset Mortgage Capital Corp (NYSE:WMC) last announced its quarterly earnings results on Monday, March 6th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.10. The business had revenue of $26.73 million during the quarter, compared to the consensus estimate of $22.08 million. Western Asset Mortgage Capital Corp had a negative net margin of 5.53% and a positive return on equity of 9.54%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. On average, equities research analysts predict that Western Asset Mortgage Capital Corp will post $1.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Monday, April 3rd were issued a $0.31 dividend. The ex-dividend date was Thursday, March 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.49%. Western Asset Mortgage Capital Corp’s dividend payout ratio is presently -688.85%.

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In other Western Asset Mortgage Capital Corp news, insider Jennifer Murphy bought 5,000 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was purchased at an average cost of $9.67 per share, for a total transaction of $48,350.00. Following the acquisition, the insider now owns 15,000 shares of the company’s stock, valued at approximately $145,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Allianz Asset Management AG increased its position in Western Asset Mortgage Capital Corp by 37.7% in the fourth quarter. Allianz Asset Management AG now owns 44,712 shares of the financial services provider’s stock valued at $450,000 after buying an additional 12,234 shares during the period. JPMorgan Chase & Co. increased its position in Western Asset Mortgage Capital Corp by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 235,111 shares of the financial services provider’s stock valued at $2,450,000 after buying an additional 4,279 shares during the period. State Street Corp increased its position in Western Asset Mortgage Capital Corp by 4.6% in the fourth quarter. State Street Corp now owns 808,876 shares of the financial services provider’s stock valued at $8,142,000 after buying an additional 35,337 shares during the period. UBS Asset Management Americas Inc. increased its position in Western Asset Mortgage Capital Corp by 24.5% in the third quarter. UBS Asset Management Americas Inc. now owns 41,192 shares of the financial services provider’s stock valued at $429,000 after buying an additional 8,100 shares during the period. Finally, Renaissance Technologies LLC increased its position in Western Asset Mortgage Capital Corp by 32.8% in the fourth quarter. Renaissance Technologies LLC now owns 509,700 shares of the financial services provider’s stock valued at $5,133,000 after buying an additional 125,790 shares during the period. Hedge funds and other institutional investors own 33.73% of the company’s stock.

About Western Asset Mortgage Capital Corp

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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