Western Asset Mortgage Capital Corporation (NYSE:WMC) Announces Earnings Results
Western Asset Mortgage Capital Corporation (NYSE:WMC) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.53, reports. Western Asset Mortgage Capital Corporation had a net margin of 30.09% and a return on equity of 6.96%.
Shares of Western Asset Mortgage Capital Corporation (NYSE WMC) traded up 2.02% during trading on Tuesday, reaching $10.63. 306,554 shares of the company traded hands. Western Asset Mortgage Capital Corporation has a 12-month low of $9.43 and a 12-month high of $11.18. The firm’s 50-day moving average is $10.38 and its 200-day moving average is $10.20. The stock has a market capitalization of $445.60 million, a PE ratio of 14.21 and a beta of 0.72.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, June 30th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 11.67%. The ex-dividend date of this dividend was Wednesday, June 28th. Western Asset Mortgage Capital Corporation’s payout ratio is 167.57%.
WARNING: This story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/08/08/western-asset-mortgage-capital-corporation-nysewmc-announces-earnings-results.html.
A number of analysts have recently weighed in on WMC shares. Zacks Investment Research raised shares of Western Asset Mortgage Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. TheStreet raised shares of Western Asset Mortgage Capital Corporation from a “d” rating to a “c” rating in a report on Thursday, May 4th. JMP Securities started coverage on shares of Western Asset Mortgage Capital Corporation in a report on Tuesday, July 25th. They set a “market perform” rating for the company. Finally, BidaskClub downgraded shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.60.
In other news, insider Jennifer Murphy purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $10.22 per share, for a total transaction of $51,100.00. Following the completion of the purchase, the insider now owns 37,500 shares in the company, valued at approximately $383,250. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.36% 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.
Receive News & Ratings for Western Asset Mortgage Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Asset Mortgage Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.