Western Asset Mortgage Capital (WMC) Cut to Sell at ValuEngine

ValuEngine lowered shares of Western Asset Mortgage Capital (NYSE:WMC) from a hold rating to a sell rating in a research note published on Thursday morning.

Western Asset Mortgage Capital stock opened at $9.81 on Thursday. Western Asset Mortgage Capital has a 1-year low of $8.54 and a 1-year high of $11.38. The company has a debt-to-equity ratio of 9.98, a quick ratio of 832.49 and a current ratio of 832.49. The firm has a market capitalization of $417.00 million, a price-to-earnings ratio of 8.53 and a beta of 0.46.

Western Asset Mortgage Capital (NYSE:WMC) last posted its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. Western Asset Mortgage Capital had a return on equity of 11.92% and a net margin of 37.46%. The company had revenue of $19.02 million for the quarter, compared to analysts’ expectations of $19.90 million. During the same period last year, the firm earned $0.32 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Thursday, September 27th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 12.64%. The ex-dividend date is Wednesday, September 26th. Western Asset Mortgage Capital’s dividend payout ratio is presently 107.83%.

A number of institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. acquired a new stake in Western Asset Mortgage Capital in the second quarter valued at $101,000. MetLife Investment Advisors LLC raised its stake in Western Asset Mortgage Capital by 97.6% in the second quarter. MetLife Investment Advisors LLC now owns 19,929 shares of the financial services provider’s stock valued at $208,000 after buying an additional 9,844 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Western Asset Mortgage Capital by 74.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,137 shares of the financial services provider’s stock valued at $179,000 after buying an additional 7,287 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Western Asset Mortgage Capital in the second quarter valued at $112,000. Finally, Van ECK Associates Corp raised its stake in Western Asset Mortgage Capital by 3.7% in the second quarter. Van ECK Associates Corp now owns 213,530 shares of the financial services provider’s stock valued at $2,225,000 after buying an additional 7,566 shares in the last quarter. Institutional investors own 43.25% of the company’s stock.

About Western Asset Mortgage Capital

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, and other financial assets.

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