Van ECK Associates Corp boosted its stake in Western Asset Mortgage Capital Corp (NYSE:WMC) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,530 shares of the financial services provider’s stock after purchasing an additional 7,566 shares during the quarter. Van ECK Associates Corp owned approximately 0.51% of Western Asset Mortgage Capital worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in Western Asset Mortgage Capital by 54.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,358,100 shares of the financial services provider’s stock worth $14,151,000 after purchasing an additional 478,400 shares during the period. BlackRock Inc. increased its stake in Western Asset Mortgage Capital by 4.6% in the 2nd quarter. BlackRock Inc. now owns 3,926,401 shares of the financial services provider’s stock worth $40,913,000 after purchasing an additional 174,385 shares during the period. Prudential Financial Inc. increased its stake in Western Asset Mortgage Capital by 11.9% in the 1st quarter. Prudential Financial Inc. now owns 1,157,280 shares of the financial services provider’s stock worth $11,214,000 after purchasing an additional 123,500 shares during the period. Chicago Equity Partners LLC purchased a new position in Western Asset Mortgage Capital in the 2nd quarter worth approximately $538,000. Finally, Millennium Management LLC purchased a new position in Western Asset Mortgage Capital in the 4th quarter worth approximately $297,000. Institutional investors and hedge funds own 43.25% of the company’s stock.
Shares of WMC traded down $0.05 during mid-day trading on Friday, hitting $9.81. 903,863 shares of the company’s stock traded hands, compared to its average volume of 343,777. The company has a debt-to-equity ratio of 9.98, a quick ratio of 832.49 and a current ratio of 832.49. Western Asset Mortgage Capital Corp has a 1 year low of $8.54 and a 1 year high of $11.38. The stock has a market capitalization of $417.00 million, a PE ratio of 8.53 and a beta of 0.46.
Western Asset Mortgage Capital (NYSE:WMC) last issued its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The company had revenue of $19.02 million for the quarter, compared to analysts’ expectations of $19.90 million. Western Asset Mortgage Capital had a return on equity of 11.92% and a net margin of 37.46%. During the same period in the prior year, the firm earned $0.32 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Thursday, September 27th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, September 26th. This represents a $1.24 annualized dividend and a yield of 12.64%. Western Asset Mortgage Capital’s payout ratio is 107.83%.
Separately, ValuEngine cut Western Asset Mortgage Capital from a “hold” rating to a “sell” rating in a research note on Thursday.
Western Asset Mortgage Capital Profile
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, and other financial assets.
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