Western Asset Mortgage Capital Co. (NYSE:WMC – Get Rating) announced a quarterly dividend on Tuesday, June 21st, Zacks reports. Stockholders of record on Friday, July 1st will be paid 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 dividend yield of 12.60%. The ex-dividend date is Thursday, June 30th.
Western Asset Mortgage Capital has decreased its dividend by an average of 42.2% annually over the last three years. Western Asset Mortgage Capital has a dividend payout ratio of 57.1% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
Shares of WMC opened at $1.27 on Thursday. The business’s 50-day moving average price is $1.32 and its 200-day moving average price is $1.74. Western Asset Mortgage Capital has a twelve month low of $1.10 and a twelve month high of $3.61. The company has a current ratio of 1,098.13, a quick ratio of 1,098.13 and a debt-to-equity ratio of 15.45.
Several hedge funds have recently bought and sold shares of WMC. Renaissance Technologies LLC increased its position in shares of Western Asset Mortgage Capital by 536.2% in the first quarter. Renaissance Technologies LLC now owns 97,340 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 82,040 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Western Asset Mortgage Capital by 103.7% in the first quarter. Goldman Sachs Group Inc. now owns 55,351 shares of the financial services provider’s stock worth $94,000 after buying an additional 28,178 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Western Asset Mortgage Capital in the first quarter worth approximately $97,000. Institutional investors own 22.99% of the company’s stock.
WMC has been the topic of several analyst reports. Bank of America decreased their price target on Western Asset Mortgage Capital from $3.00 to $2.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 9th. StockNews.com upgraded shares of Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 20th. Finally, Jonestrading upgraded shares of Western Asset Mortgage Capital from a “hold” rating to a “buy” rating in a research report on Monday, June 13th.
About Western Asset Mortgage Capital (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.
- Get a free copy of the StockNews.com research report on Western Asset Mortgage Capital (WMC)
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