Western Asset Mortgage Capital Corp. (NYSE:WMC) saw unusually-high trading volume on Friday . Approximately 1,597,756 shares traded hands during mid-day trading, an increase of 424% from the previous session’s volume of 304,647 shares.The stock last traded at $10.29 and had previously closed at $10.53.

WMC has been the topic of several recent research reports. Wunderlich upgraded Western Asset Mortgage Capital Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $9.50 to $11.00 in a research report on Friday, August 5th. Zacks Investment Research upgraded Western Asset Mortgage Capital Corp. from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, July 27th. Bank of America Corp. set a $11.00 price objective on Western Asset Mortgage Capital Corp. and gave the company a “hold” rating in a research report on Thursday, August 11th. Deutsche Bank AG upped their price objective on Western Asset Mortgage Capital Corp. from $9.75 to $10.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Finally, Citigroup Inc. upped their price objective on Western Asset Mortgage Capital Corp. from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.14.

The firm has a 50-day moving average of $10.54 and a 200-day moving average of $9.93. The firm’s market cap is $431.35 million.

Western Asset Mortgage Capital Corp. (NYSE:WMC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by $0.05. Western Asset Mortgage Capital Corp. had a negative net margin of 31.56% and a positive return on equity of 10.83%. The business earned $21.50 million during the quarter, compared to analyst estimates of $33.92 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm’s revenue was down 37.7% compared to the same quarter last year. Analysts predict that Western Asset Mortgage Capital Corp. will post $2.91 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Western Asset Mortgage Capital Corp. by 147.3% in the second quarter. BlackRock Inc. now owns 13,799 shares of the company’s stock valued at $131,000 after buying an additional 8,219 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Western Asset Mortgage Capital Corp. by 11.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,388 shares of the company’s stock valued at $156,000 after buying an additional 1,599 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Western Asset Mortgage Capital Corp. during the second quarter valued at about $171,000. BlackRock Group LTD boosted its position in shares of Western Asset Mortgage Capital Corp. by 200.0% in the first quarter. BlackRock Group LTD now owns 17,369 shares of the company’s stock valued at $174,000 after buying an additional 11,579 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Western Asset Mortgage Capital Corp. during the first quarter valued at about $195,000. Institutional investors own 32.73% of the company’s stock.

About Western Asset Mortgage Capital Corp.

Western Asset Mortgage Capital Corporation is a real estate investment trust focused on investing in, financing and managing a portfolio of real estate related securities, whole-loans and other financial assets. The Company’s portfolio consists of Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)), Non-Agency RMBS, Agency and Non-Agency commercial mortgage-backed securities (CMBS), and Whole-Loans.

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