Western Asset Mortgage Capital Co. (NYSE:WMC) Declares $0.04 Quarterly Dividend

Western Asset Mortgage Capital Co. (NYSE:WMCGet Rating) announced a quarterly dividend on Tuesday, June 21st, Zacks reports. Shareholders of record on Friday, July 1st will be given a dividend of 0.04 per share by the financial services provider on Monday, July 25th. This represents a $0.16 annualized dividend and a yield of 12.60%. The ex-dividend date of this dividend is Thursday, June 30th.

Western Asset Mortgage Capital has decreased its dividend payment by an average of 42.2% per year over the last three years. Western Asset Mortgage Capital has a payout ratio of 57.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western Asset Mortgage Capital to earn $0.27 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 59.3%.

NYSE WMC opened at $1.27 on Thursday. Western Asset Mortgage Capital has a fifty-two week low of $1.10 and a fifty-two week high of $3.61. The company has a debt-to-equity ratio of 15.45, a quick ratio of 1,098.13 and a current ratio of 1,098.13. The stock has a 50 day simple moving average of $1.32 and a two-hundred day simple moving average of $1.74. The stock has a market cap of $76.68 million, a P/E ratio of -0.93 and a beta of 1.95.

Western Asset Mortgage Capital (NYSE:WMCGet Rating) last released its quarterly earnings data on Thursday, May 5th. The financial services provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). Western Asset Mortgage Capital had a positive return on equity of 3.94% and a negative net margin of 53.54%. During the same period in the previous year, the firm posted $0.10 earnings per share. Sell-side analysts predict that Western Asset Mortgage Capital will post 0.15 earnings per share for the current year.

Several equities research analysts have weighed in on the company. Jonestrading upgraded Western Asset Mortgage Capital from a “hold” rating to a “buy” rating in a report on Monday, June 13th. Bank of America decreased their target price on Western Asset Mortgage Capital from $3.00 to $2.00 and set an “underperform” rating for the company in a research report on Wednesday, March 9th. Finally, StockNews.com raised Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 20th.

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Western Asset Mortgage Capital by 103.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 55,351 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 28,178 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Western Asset Mortgage Capital in the 1st quarter worth approximately $97,000. Finally, Renaissance Technologies LLC raised its position in shares of Western Asset Mortgage Capital by 536.2% in the 1st quarter. Renaissance Technologies LLC now owns 97,340 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 82,040 shares in the last quarter. 22.99% of the stock is owned by hedge funds and other institutional investors.

Western Asset Mortgage Capital Company Profile (Get Rating)

Western Asset Mortgage Capital Corporation operates as a real estate investment trust. It invests in, acquires, and manages a portfolio of assets with a focus on residential real estate related investments, including non-qualified mortgage loans, non-agency residential mortgage-backed securities (RMBS), and other related investments.

Further Reading

Dividend History for Western Asset Mortgage Capital (NYSE:WMC)

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