Schwab Charles Investment Management Inc. Buys 46,923 Shares of Western Asset Mortgage Capital Corporation (NYSE:WMC)

Schwab Charles Investment Management Inc. raised its holdings in Western Asset Mortgage Capital Corporation (NYSE:WMC) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 354,508 shares of the financial services provider’s stock after buying an additional 46,923 shares during the period. Schwab Charles Investment Management Inc. owned 0.85% of Western Asset Mortgage Capital Corporation worth $3,652,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Western Asset Mortgage Capital Corporation by 12.4% in the 1st quarter. Vanguard Group Inc. now owns 1,785,779 shares of the financial services provider’s stock valued at $17,447,000 after acquiring an additional 197,181 shares during the period. Renaissance Technologies LLC grew its position in shares of Western Asset Mortgage Capital Corporation by 14.2% in the 1st quarter. Renaissance Technologies LLC now owns 581,910 shares of the financial services provider’s stock valued at $5,685,000 after acquiring an additional 72,210 shares during the period. Thrivent Financial For Lutherans bought a new position in shares of Western Asset Mortgage Capital Corporation in the 1st quarter valued at about $3,533,000. Geode Capital Management LLC grew its position in shares of Western Asset Mortgage Capital Corporation by 4.1% in the 1st quarter. Geode Capital Management LLC now owns 326,792 shares of the financial services provider’s stock valued at $3,192,000 after acquiring an additional 12,722 shares during the period. Finally, Creative Planning grew its position in shares of Western Asset Mortgage Capital Corporation by 7.8% in the 2nd quarter. Creative Planning now owns 286,363 shares of the financial services provider’s stock valued at $2,950,000 after acquiring an additional 20,813 shares during the period. Hedge funds and other institutional investors own 40.24% of the company’s stock.

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A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 17th. JMP Securities began coverage on shares of Western Asset Mortgage Capital Corporation in a research report on Tuesday, July 25th. They issued a “market perform” rating for the company. Finally, BidaskClub cut shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Western Asset Mortgage Capital Corporation has an average rating of “Hold” and an average price target of $11.00.

Western Asset Mortgage Capital Corporation (WMC) opened at 10.14 on Friday. The company’s 50-day moving average is $10.56 and its 200-day moving average is $10.40. The firm has a market capitalization of $425.06 million, a PE ratio of 12.35 and a beta of 0.71. Western Asset Mortgage Capital Corporation has a 52-week low of $9.43 and a 52-week high of $11.18.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Monday, October 2nd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.23%. Western Asset Mortgage Capital Corporation’s dividend payout ratio is currently 151.22%.

Western Asset Mortgage Capital Corporation Profile

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.

Institutional Ownership by Quarter for Western Asset Mortgage Capital Corporation (NYSE:WMC)

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