Western Asset Mortgage Capital (WMC) Raised to “Hold” at Zacks Investment Research

Western Asset Mortgage Capital (NYSE:WMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, November 28th.

According to Zacks, “Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or federally chartered corporation. Western Asset Mortgage Capital Corporation is headquartered in Pasadena, California. “

Shares of Western Asset Mortgage Capital (NYSE WMC) opened at $10.04 on Tuesday. The company has a market cap of $421.71, a P/E ratio of 55.89 and a beta of 0.67. Western Asset Mortgage Capital has a fifty-two week low of $9.43 and a fifty-two week high of $11.18. The company has a debt-to-equity ratio of 7.34, a quick ratio of 128.12 and a current ratio of 128.12.

Western Asset Mortgage Capital (NYSE:WMC) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Western Asset Mortgage Capital had a return on equity of 1.81% and a net margin of 18.57%. The business had revenue of $18.57 million for the quarter, compared to the consensus estimate of $17.10 million. During the same period in the prior year, the business earned $0.35 earnings per share. Western Asset Mortgage Capital’s revenue was down 5.5% compared to the same quarter last year. equities analysts anticipate that Western Asset Mortgage Capital will post 1.18 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in Western Asset Mortgage Capital by 4.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,073 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 490 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Western Asset Mortgage Capital by 73.4% during the second quarter. BNP Paribas Arbitrage SA now owns 11,307 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 4,786 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Western Asset Mortgage Capital during the second quarter worth about $150,000. Capital Fund Management S.A. acquired a new position in Western Asset Mortgage Capital during the second quarter worth about $198,000. Finally, Susquehanna International Group LLP raised its stake in Western Asset Mortgage Capital by 240.2% during the second quarter. Susquehanna International Group LLP now owns 20,042 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 34,342 shares in the last quarter. 43.03% of the stock is owned by institutional investors.

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Western Asset Mortgage Capital Company 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.

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