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.
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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