StockNews.com began coverage on shares of Western Asset Mortgage Capital (NYSE:WMC – Free Report) in a report published on Monday. The brokerage issued a hold rating on the financial services provider’s stock.
Western Asset Mortgage Capital Trading Up 1.4 %
Shares of WMC opened at $8.54 on Monday. The business’s 50-day moving average price is $9.19 and its 200 day moving average price is $9.17. The stock has a market capitalization of $51.58 million, a P/E ratio of -1.20 and a beta of 1.71. Western Asset Mortgage Capital has a 1-year low of $7.00 and a 1-year high of $11.64. The company has a current ratio of 415.82, a quick ratio of 415.82 and a debt-to-equity ratio of 24.54.
Western Asset Mortgage Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Friday, November 3rd were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 6.56%. Western Asset Mortgage Capital’s dividend payout ratio is currently -7.84%.
Hedge Funds Weigh In On Western Asset Mortgage Capital
A number of institutional investors have recently bought and sold shares of WMC. Bank of America Corp DE grew its stake in Western Asset Mortgage Capital by 153.8% during the 4th quarter. Bank of America Corp DE now owns 3,048 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,847 shares in the last quarter. State Street Corp grew its stake in Western Asset Mortgage Capital by 10.9% during the 1st quarter. State Street Corp now owns 24,452 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 2,400 shares in the last quarter. BlackRock Inc. grew its stake in Western Asset Mortgage Capital by 2.1% during the 2nd quarter. BlackRock Inc. now owns 120,152 shares of the financial services provider’s stock valued at $1,066,000 after acquiring an additional 2,524 shares in the last quarter. Geode Capital Management LLC grew its stake in Western Asset Mortgage Capital by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 49,940 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Western Asset Mortgage Capital by 50.9% during the 4th quarter. Millennium Management LLC now owns 66,111 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 22,308 shares in the last quarter. Hedge funds and other institutional investors own 14.66% of the company’s stock.
About Western Asset Mortgage Capital
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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.
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