Western Asset Mortgage Capital (NYSE:WMC) Stock Rating Reaffirmed by Zacks Investment Research

Zacks Investment Research reiterated their sell rating on shares of Western Asset Mortgage Capital (NYSE:WMC) in a report released on Saturday, Zacks.com reports.

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. “

Separately, Keefe, Bruyette & Woods started coverage on Western Asset Mortgage Capital in a research report on Sunday, March 17th. They issued a market perform rating and a $10.50 target price for the company.

Shares of NYSE WMC opened at $10.02 on Friday. Western Asset Mortgage Capital has a fifty-two week low of $8.26 and a fifty-two week high of $11.38. The company’s 50 day simple moving average is $9.99. The company has a current ratio of 700.59, a quick ratio of 700.59 and a debt-to-equity ratio of 7.51. The firm has a market cap of $534.86 million, a price-to-earnings ratio of 7.37 and a beta of 0.78.

Western Asset Mortgage Capital (NYSE:WMC) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Western Asset Mortgage Capital had a return on equity of 11.99% and a net margin of 13.99%. The firm had revenue of $15.63 million during the quarter, compared to analyst estimates of $20.90 million. During the same quarter last year, the firm earned $0.34 EPS. Western Asset Mortgage Capital’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Western Asset Mortgage Capital will post 1.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 1st will be given a $0.31 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.24 annualized dividend and a dividend yield of 12.38%. Western Asset Mortgage Capital’s payout ratio is 91.18%.

In other news, Director Jennifer Murphy bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $9.98 per share, for a total transaction of $99,800.00. Following the transaction, the director now owns 85,000 shares in the company, valued at $848,300. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Harris Trifon bought 3,500 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $10.05 per share, with a total value of $35,175.00. Following the transaction, the executive now owns 6,003 shares in the company, valued at approximately $60,330.15. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC increased its stake in Western Asset Mortgage Capital by 121.4% during the first quarter. Campbell & CO Investment Adviser LLC now owns 47,394 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 25,983 shares during the period. Martingale Asset Management L P grew its stake in shares of Western Asset Mortgage Capital by 18.3% in the 1st quarter. Martingale Asset Management L P now owns 255,521 shares of the financial services provider’s stock valued at $2,615,000 after purchasing an additional 39,602 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Western Asset Mortgage Capital in the 1st quarter valued at approximately $26,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Western Asset Mortgage Capital in the 1st quarter valued at approximately $808,000. Finally, Rhumbline Advisers grew its stake in shares of Western Asset Mortgage Capital by 5.9% in the 1st quarter. Rhumbline Advisers now owns 62,522 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 3,504 shares during the period. Institutional investors own 42.32% of the company’s stock.

About Western Asset Mortgage Capital

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It 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, residential bridge loans, securitized commercial loans, and other financial assets.

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