Western Asset Mortgage Capital Corporation (NYSE:WMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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 Corporation from a “d” rating to a “c” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Western Asset Mortgage Capital Corporation currently has an average rating of “Hold” and a consensus price target of $10.40.

Shares of Western Asset Mortgage Capital Corporation (NYSE WMC) traded down 0.97% during trading on Friday, hitting $10.16. The stock had a trading volume of 144,013 shares. Western Asset Mortgage Capital Corporation has a 1-year low of $9.22 and a 1-year high of $11.18. The firm has a 50-day moving average of $10.32 and a 200 day moving average of $10.21. The company has a market capitalization of $425.90 million, a P/E ratio of 13.58 and a beta of 0.72.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, June 30th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.20%. Western Asset Mortgage Capital Corporation’s dividend payout ratio is presently 167.57%.

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In other Western Asset Mortgage Capital Corporation news, insider Jennifer Murphy bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $10.22 per share, for a total transaction of $51,100.00. Following the acquisition, the insider now directly owns 37,500 shares of the company’s stock, valued at approximately $383,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Teza Capital Management LLC acquired a new stake in Western Asset Mortgage Capital Corporation during the first quarter worth $179,000. Karp Capital Management Corp acquired a new stake in Western Asset Mortgage Capital Corporation during the first quarter worth $213,000. American International Group Inc. raised its stake in Western Asset Mortgage Capital Corporation by 7.1% in the first quarter. American International Group Inc. now owns 25,214 shares of the financial services provider’s stock worth $246,000 after buying an additional 1,670 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Western Asset Mortgage Capital Corporation by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 27,702 shares of the financial services provider’s stock worth $270,000 after buying an additional 1,413 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Western Asset Mortgage Capital Corporation by 8.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 29,798 shares of the financial services provider’s stock worth $291,000 after buying an additional 2,429 shares in the last quarter. Institutional investors own 37.17% 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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