Western Asset Mortgage Capital Corporation (NYSE:WMC) announced a quarterly dividend on Thursday, September 21st, RTT News reports. Shareholders of record on Monday, October 2nd will be given a dividend of 0.31 per share by the financial services provider on Thursday, October 26th. This represents a $1.24 annualized dividend and a yield of 11.75%. The ex-dividend date is Friday, September 29th.
Western Asset Mortgage Capital Corporation has decreased its dividend payment by an average of 23.3% annually over the last three years. Western Asset Mortgage Capital Corporation has a dividend payout ratio of 99.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Western Asset Mortgage Capital Corporation to earn $1.46 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 84.9%.
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A number of equities analysts have weighed in on WMC shares. Zacks Investment Research lowered Western Asset Mortgage Capital Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 7th. BidaskClub lowered Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, JMP Securities started coverage on Western Asset Mortgage Capital Corporation in a research note on Tuesday, July 25th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Western Asset Mortgage Capital Corporation has an average rating of “Hold” and an average target price of $11.00.
About Western Asset Mortgage Capital Corporation
Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.
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