Western Asset Mortgage Capital Co. (NYSE:WMC) Plans Dividend Increase – $0.40 Per Share

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

Western Asset Mortgage Capital has decreased its dividend by an average of 42.2% annually over the last three years. Western Asset Mortgage Capital has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 2.3 %

Shares of NYSE:WMC traded down $0.29 during midday trading on Friday, hitting $12.49. The company had a trading volume of 30,900 shares, compared to its average volume of 34,505. The company has a quick ratio of 728.97, a current ratio of 728.97 and a debt-to-equity ratio of 18.72. Western Asset Mortgage Capital has a 12 month low of $11.00 and a 12 month high of $26.50. The firm has a fifty day simple moving average of $13.69 and a 200 day simple moving average of $14.03.

Western Asset Mortgage Capital (NYSE:WMCGet Rating) last released its quarterly earnings data on Thursday, August 4th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $0.50 EPS. As a group, equities research analysts expect that Western Asset Mortgage Capital will post 1.52 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Western Asset Mortgage Capital

Several hedge funds and other institutional investors have recently modified their holdings of WMC. Renaissance Technologies LLC lifted its holdings in Western Asset Mortgage Capital by 127.2% during the 2nd quarter. Renaissance Technologies LLC now owns 221,200 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 123,860 shares during the last quarter. Jane Street Group LLC acquired a new position in Western Asset Mortgage Capital in the 1st quarter valued at $97,000. Finally, Goldman Sachs Group Inc. increased 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 buying an additional 28,178 shares during the period.

Western Asset Mortgage Capital Company Profile

(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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