Western Asset Mortgage Capital Corp (NYSE:WMC) Announces Quarterly Dividend of $0.31

Western Asset Mortgage Capital Corp (NYSE:WMC) announced a quarterly dividend on Thursday, June 20th, Fidelity reports. Investors of record on Monday, July 1st will be given a dividend of 0.31 per share by the financial services provider on Friday, July 26th. This represents a $1.24 dividend on an annualized basis and a yield of 12.33%. The ex-dividend date is Friday, June 28th.

Western Asset Mortgage Capital has decreased its dividend payment by an average of 22.0% annually over the last three years. Western Asset Mortgage Capital has a dividend payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Western Asset Mortgage Capital to earn $1.29 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 96.1%.

Western Asset Mortgage Capital stock opened at $10.06 on Thursday. The company has a debt-to-equity ratio of 7.51, a current ratio of 700.59 and a quick ratio of 700.59. Western Asset Mortgage Capital has a 1-year low of $8.26 and a 1-year high of $11.38. The stock has a market cap of $533.31 million, a price-to-earnings ratio of 7.42 and a beta of 0.78. The stock has a 50-day moving average price of $9.98.

Western Asset Mortgage Capital (NYSE:WMC) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. Western Asset Mortgage Capital had a net margin of 13.99% and a return on equity of 11.99%. The company had revenue of $15.63 million for the quarter, compared to analyst estimates of $20.90 million. During the same period in the prior year, the company posted $0.34 EPS. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities analysts predict that Western Asset Mortgage Capital will post 1.28 EPS for the current year.

In related news, Director Jennifer Murphy bought 10,000 shares of Western Asset Mortgage Capital stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $9.98 per share, with a total value of $99,800.00. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $848,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CIO Harris Trifon bought 3,500 shares of Western Asset Mortgage Capital stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $10.05 per share, for a total transaction of $35,175.00. Following the completion of the transaction, the executive now owns 6,003 shares of the company’s stock, valued at approximately $60,330.15. The disclosure for this purchase can be found here. Company insiders own 0.49% of the company’s stock.

WMC has been the topic of a number of research reports. Zacks Investment Research raised shares of Western Asset Mortgage Capital from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, March 21st. Keefe, Bruyette & Woods initiated coverage on shares of Western Asset Mortgage Capital in a research report on Sunday, March 17th. They set a “market perform” rating and a $10.50 target price on the stock.

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

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