Western Asset Mortgage Capital Co. (NYSE:WMC) to Issue Quarterly Dividend of $0.40

Western Asset Mortgage Capital Co. (NYSE:WMCGet Rating) announced a quarterly dividend on Friday, September 23rd, Wall Street Journal reports. Investors of record on Monday, October 3rd will be given a dividend of 0.40 per share by the financial services provider on Wednesday, October 26th. This represents a $1.60 dividend on an annualized basis and a yield of 12.81%. The ex-dividend date is Friday, September 30th. This is a positive change from Western Asset Mortgage Capital’s previous quarterly dividend of $0.04.

Western Asset Mortgage Capital has decreased its dividend payment by an average of 42.2% per year over the last three years. Western Asset Mortgage Capital has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Western Asset Mortgage Capital to earn $2.74 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.8%.

Western Asset Mortgage Capital Stock Performance

Shares of NYSE WMC traded down $0.29 during trading on Friday, reaching $12.49. The company had a trading volume of 30,900 shares, compared to its average volume of 34,505. The company has a debt-to-equity ratio of 18.72, a quick ratio of 728.97 and a current ratio of 728.97. Western Asset Mortgage Capital has a twelve month low of $11.00 and a twelve month high of $26.50. The stock has a 50-day moving average price of $13.69 and a two-hundred day moving average price of $14.03.

Western Asset Mortgage Capital (NYSE:WMCGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Western Asset Mortgage Capital had a positive return on equity of 4.37% and a negative net margin of 42.42%. During the same period last year, the business posted $0.50 EPS. Research analysts expect that Western Asset Mortgage Capital will post 1.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Jonestrading raised shares of Western Asset Mortgage Capital from a “hold” rating to a “buy” rating in a research report on Monday, June 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WMC. Renaissance Technologies LLC raised its position in Western Asset Mortgage Capital by 127.2% during the second quarter. Renaissance Technologies LLC now owns 221,200 shares of the financial services provider’s stock valued at $268,000 after buying an additional 123,860 shares during the period. Jane Street Group LLC bought a new position in shares of Western Asset Mortgage Capital in the first quarter valued at approximately $97,000. Finally, Goldman Sachs Group Inc. lifted its position in Western Asset Mortgage Capital by 103.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 55,351 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 28,178 shares during the last quarter.

About Western Asset Mortgage Capital

(Get Rating)

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.

See Also

Dividend History for Western Asset Mortgage Capital (NYSE:WMC)

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