BidaskClub Lowers Western Asset Mortgage Capital Corporation (WMC) to Buy
Western Asset Mortgage Capital Corporation (NYSE:WMC) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.
Several other research analysts also recently issued reports on the company. Zacks Investment Research raised Western Asset Mortgage Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. TheStreet upgraded shares of Western Asset Mortgage Capital Corporation from a “d” rating to a “c” rating in a research report on Thursday, May 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.40.
Shares of Western Asset Mortgage Capital Corporation (NYSE WMC) traded up 0.39% during trading on Friday, hitting $10.21. The company had a trading volume of 156,720 shares. The stock has a market cap of $427.99 million, a PE ratio of 13.65 and a beta of 0.72. Western Asset Mortgage Capital Corporation has a 12-month low of $9.43 and a 12-month 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, June 30th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 12.14%. The ex-dividend date of this dividend is Wednesday, June 28th. Western Asset Mortgage Capital Corporation’s payout ratio is 167.57%.
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In other news, insider Jennifer Murphy acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was acquired at an average price of $10.22 per share, for a total transaction of $51,100.00. Following the transaction, the insider now directly owns 37,500 shares in the company, valued at $383,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.36% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WMC. Boothbay Fund Management LLC purchased a new position in Western Asset Mortgage Capital Corporation during the fourth quarter worth about $104,000. Ladenburg Thalmann Financial Services Inc. increased its position in Western Asset Mortgage Capital Corporation by 11.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,388 shares of the financial services provider’s stock worth $156,000 after buying an additional 1,599 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Western Asset Mortgage Capital Corporation during the second quarter worth approximately $171,000. BlackRock Group LTD increased its position in Western Asset Mortgage Capital Corporation by 200.0% in the first quarter. BlackRock Group LTD now owns 17,369 shares of the financial services provider’s stock worth $174,000 after buying an additional 11,579 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new position in Western Asset Mortgage Capital Corporation during the first quarter worth approximately $179,000. Hedge funds and other institutional investors own 37.17% of the company’s stock.
About Western Asset Mortgage Capital Corporation
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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