Western Asset Mortgage Capital Corporation (NYSE:WMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or federally chartered corporation. Western Asset Mortgage Capital Corporation is headquartered in Pasadena, California. “

Several other equities analysts have also recently weighed in on the company. JMP Securities started coverage on Western Asset Mortgage Capital Corporation in a report on Tuesday, July 25th. They issued a “market perform” rating for the company. BidaskClub cut Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Western Asset Mortgage Capital Corporation currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Shares of Western Asset Mortgage Capital Corporation (WMC) opened at $9.64 on Friday. The firm has a market capitalization of $409.14, a P/E ratio of 54.22 and a beta of 0.68. The company has a debt-to-equity ratio of 7.34, a quick ratio of 199.29 and a current ratio of 128.12. Western Asset Mortgage Capital Corporation has a fifty-two week low of $9.43 and a fifty-two week high of $11.18.

Western Asset Mortgage Capital Corporation (NYSE:WMC) last announced its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The company had revenue of $18.57 million during the quarter, compared to analyst estimates of $17.10 million. Western Asset Mortgage Capital Corporation had a net margin of 18.57% and a return on equity of 1.81%. Western Asset Mortgage Capital Corporation’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. analysts predict that Western Asset Mortgage Capital Corporation will post 1.18 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its position in Western Asset Mortgage Capital Corporation by 4.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,073 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 490 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Western Asset Mortgage Capital Corporation by 73.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,307 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 4,786 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Western Asset Mortgage Capital Corporation during the 2nd quarter worth $150,000. Capital Fund Management S.A. bought a new stake in Western Asset Mortgage Capital Corporation during the 2nd quarter worth $198,000. Finally, Susquehanna International Group LLP grew its position in Western Asset Mortgage Capital Corporation by 240.2% during the 2nd quarter. Susquehanna International Group LLP now owns 20,042 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 34,342 shares during the last quarter. Institutional investors and hedge funds own 40.01% of the company’s stock.

Western Asset Mortgage Capital Corporation Company Profile

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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