Goldman Sachs Group Inc. lessened its stake in Western Asset Mortgage Capit (NYSE:WMC) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,772 shares of the financial services provider’s stock after selling 7,809 shares during the period. Goldman Sachs Group Inc. owned about 0.37% of Western Asset Mortgage Capit worth $1,530,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in Western Asset Mortgage Capit during the fourth quarter worth about $145,000. Public Employees Retirement System of Ohio lifted its stake in Western Asset Mortgage Capit by 332.5% during the third quarter. Public Employees Retirement System of Ohio now owns 28,698 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 22,062 shares during the period. Wells Fargo & Company MN lifted its stake in Western Asset Mortgage Capit by 42.8% during the third quarter. Wells Fargo & Company MN now owns 51,970 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 15,570 shares during the period. OxFORD Asset Management LLP lifted its stake in Western Asset Mortgage Capit by 159.5% during the third quarter. OxFORD Asset Management LLP now owns 67,878 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 41,725 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in Western Asset Mortgage Capit by 7.8% during the fourth quarter. Guggenheim Capital LLC now owns 84,328 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 6,104 shares during the period. Institutional investors and hedge funds own 43.07% of the company’s stock.
NYSE:WMC opened at $9.72 on Thursday. Western Asset Mortgage Capit has a 1 year low of $8.54 and a 1 year high of $10.95. The company has a debt-to-equity ratio of 7.23, a current ratio of 140.92 and a quick ratio of 140.92. The company has a market capitalization of $402.85, a PE ratio of 8.45 and a beta of 0.39.
Western Asset Mortgage Capit (NYSE:WMC) last posted its earnings results on Monday, March 5th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Western Asset Mortgage Capit had a net margin of 54.99% and a return on equity of 13.10%. The company had revenue of $18.01 million during the quarter, compared to analysts’ expectations of $18.85 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Western Asset Mortgage Capit’s quarterly revenue was down 3.0% compared to the same quarter last year. sell-side analysts anticipate that Western Asset Mortgage Capit will post 1.43 EPS for the current year.
Western Asset Mortgage Capit declared that its board has initiated a share repurchase plan on Thursday, December 21st that permits the company to repurchase 2,100,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Monday, April 2nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.76%. The ex-dividend date of this dividend is Thursday, March 29th. Western Asset Mortgage Capit’s dividend payout ratio (DPR) is currently 107.83%.
WMC has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Western Asset Mortgage Capit from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, March 14th. ValuEngine cut shares of Western Asset Mortgage Capit from a “buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.00.
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Western Asset Mortgage Capit Profile
Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It primarily 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, and other financial assets.
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