Western Asset Mortgage Capital Corp (NYSE:WMC) Short Interest Down 6.5% in October

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Western Asset Mortgage Capital Corp (NYSE:WMC) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, a decline of 6.5% from the September 30th total of 1,380,000 shares. Based on an average daily volume of 345,500 shares, the short-interest ratio is presently 3.7 days. Currently, 2.4% of the company’s stock are short sold.

A number of equities analysts recently commented on the stock. Bank of America lowered their target price on shares of Western Asset Mortgage Capital from $10.75 to $10.50 and set a “buy” rating for the company in a research note on Monday, September 23rd. ValuEngine upgraded shares of Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research upgraded shares of Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research note on Saturday.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its stake in shares of Western Asset Mortgage Capital by 1,481.5% during the second quarter. Bank of Montreal Can now owns 4,270 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 4,000 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Western Asset Mortgage Capital in the second quarter valued at $76,000. Deprince Race & Zollo Inc. purchased a new stake in Western Asset Mortgage Capital in the second quarter valued at $100,000. CAPROCK Group Inc. purchased a new stake in Western Asset Mortgage Capital in the third quarter valued at $116,000. Finally, Strs Ohio lifted its position in Western Asset Mortgage Capital by 11.9% in the third quarter. Strs Ohio now owns 14,100 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Shares of WMC stock traded up $0.01 on Monday, reaching $10.19. 20,900 shares of the stock were exchanged, compared to its average volume of 319,721. The company has a current ratio of 709.60, a quick ratio of 709.60 and a debt-to-equity ratio of 8.05. The business’s 50 day moving average price is $9.90 and its 200 day moving average price is $9.94. The company has a market capitalization of $542.36 million, a price-to-earnings ratio of 7.49 and a beta of 0.76. Western Asset Mortgage Capital has a twelve month low of $8.26 and a twelve month high of $10.66.

Western Asset Mortgage Capital (NYSE:WMC) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The firm had revenue of $16.57 million for the quarter, compared to analyst estimates of $20.95 million. Western Asset Mortgage Capital had a return on equity of 11.66% and a net margin of 18.47%. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities research analysts forecast that Western Asset Mortgage Capital will post 1.21 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 30th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.17%. Western Asset Mortgage Capital’s payout ratio is currently 91.18%.

Western Asset Mortgage Capital Company 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, securitized commercial loans, and other financial assets.

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