Western Asset Mortgage Capital Corp. (NYSE:WMC) Receives Consensus Rating of “Hold” from Analysts

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Shares of Western Asset Mortgage Capital Corp. (NYSE:WMC) have earned an average recommendation of “Hold” from the nine analysts that are covering the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.14.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Western Asset Mortgage Capital Corp. from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, July 13th. Deutsche Bank AG upped their price target on shares of Western Asset Mortgage Capital Corp. from $9.75 to $10.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Wunderlich upgraded shares of Western Asset Mortgage Capital Corp. from a “hold” rating to a “buy” rating and upped their price target for the company from $9.50 to $11.00 in a report on Friday, August 5th. Bank of America Corp. cut shares of Western Asset Mortgage Capital Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Finally, Citigroup Inc. upped their price target on shares of Western Asset Mortgage Capital Corp. from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, August 17th.
Shares of Western Asset Mortgage Capital Corp. (NYSE:WMC) traded up 1.8455% during mid-day trading on Monday, reaching $10.4799. 197,353 shares of the company were exchanged. Western Asset Mortgage Capital Corp. has a 12 month low of $8.04 and a 12 month high of $13.50. The stock’s market capitalization is $439.31 million. The firm has a 50-day moving average price of $10.54 and a 200 day moving average price of $9.93.

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Western Asset Mortgage Capital Corp. (NYSE:WMC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.05. Western Asset Mortgage Capital Corp. had a negative net margin of 31.56% and a positive return on equity of 10.83%. The firm earned $21.50 million during the quarter, compared to the consensus estimate of $33.92 million. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was down 37.7% on a year-over-year basis. Equities research analysts anticipate that Western Asset Mortgage Capital Corp. will post $2.91 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Western Asset Mortgage Capital Corp. by 12.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 239,163 shares of the company’s stock valued at $2,246,000 after buying an additional 26,663 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Western Asset Mortgage Capital Corp. by 6.8% in the second quarter. Van ECK Associates Corp now owns 158,307 shares of the company’s stock worth $1,487,000 after buying an additional 10,094 shares in the last quarter. Allianz Asset Management AG boosted its stake in shares of Western Asset Mortgage Capital Corp. by 3.4% in the second quarter. Allianz Asset Management AG now owns 32,478 shares of the company’s stock worth $305,000 after buying an additional 1,053 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Western Asset Mortgage Capital Corp. by 571.5% in the second quarter. Citigroup Inc. now owns 427,712 shares of the company’s stock worth $4,016,000 after buying an additional 364,016 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Western Asset Mortgage Capital Corp. by 3.4% in the second quarter. Raymond James & Associates now owns 97,000 shares of the company’s stock worth $911,000 after buying an additional 3,233 shares in the last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.
About Western Asset Mortgage Capital Corp.
Western Asset Mortgage Capital Corporation is a real estate investment trust focused on investing in, financing and managing a portfolio of real estate related securities, whole-loans and other financial assets. The Company’s portfolio consists of Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)), Non-Agency RMBS, Agency and Non-Agency commercial mortgage-backed securities (CMBS), and Whole-Loans.

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