Western Asset Mortgage Capital (NYSE:WMC) declared that its Board of Directors has approved a share repurchase program, which allows the company to repurchase 2,100,000 shares on Thursday, December 21st, EventVestor reports. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Separately, Zacks Investment Research downgraded shares of Western Asset Mortgage Capital from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.
Western Asset Mortgage Capital (NYSE WMC) opened at $10.19 on Monday. The stock has a market capitalization of $427.16, a price-to-earnings ratio of 16.98 and a beta of 0.71. The company has a current ratio of 128.12, a quick ratio of 128.12 and a debt-to-equity ratio of 7.34. Western Asset Mortgage Capital has a 12-month low of $9.43 and a 12-month high of $10.95.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.17%. The ex-dividend date of this dividend is Friday, December 29th. Western Asset Mortgage Capital’s payout ratio is presently 206.67%.
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.
What are top analysts saying about Western Asset Mortgage Capital? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Western Asset Mortgage Capital and related companies.