Western Asset Mortgage Capital Corp (WMC) is Downgraded by Wells Fargo to Underperform

Western Asset Mortgage Capital Corp (WMC) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Apr 11, 2016.

Many Wall Street Analysts have commented on Western Asset Mortgage Capital Corp. Shares were Reiterated by Deutsche Bank on Mar 10, 2016 to “Hold” and Lowered the Price Target to $ 12 from a previous price target of $13 .Shares were Reiterated by Wunderlich on Mar 2, 2016 to “Hold” and Lowered the Price Target to $ 10 from a previous price target of $11 .

On the company’s financial health, Western Asset Mortgage Capital Corp reported $0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Mar 1, 2016. Analyst had a consensus of $0.51. The company had revenue of $27.40 million for the quarter, compared to analysts expectations of $29.60 million. The company’s revenue was down -4.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

Western Asset Mortgage Capital Corp closed down -0.05 points or -0.51% at $9.83 with 6,45,789 shares getting traded on Monday. Post opening the session at $9.85, the shares hit an intraday low of $9.8 and an intraday high of $9.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 8, 2016, Gavin L James (CEO) purchased 3,006 shares at $11.92 per share price. According to the SEC, on Dec 28, 2015, Elliott Neumayer (COO) purchased 200 shares at $10.84 per share price.

Western Asset Mortgage Capital Corporation is a specialty financial real estate investment trust (REIT) managing a diversified mortgage-market investment portfolio including undervalued assets. The Company’s is primarily focused on investing in financing and managing Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)) Non-Agency RMBS and Agency and Non-Agency commercial mortgage-backed securities (CMBS). In addition the Company also invests in other securities including certain Agency obligations that are not technically mortgage-backed securities (MBS) as well as certain Non United States CMBS and asset-backed securities (ABS) investments secured by a portfolio private student loans and interests in residential whole-loans. The Company is externally managed and advised by Western Asset Management Company (the Manager).

Western Asset Mortgage Capital Corp

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