Wells Fargo Downgrades Western Asset Mortgage Capital Corp to Underperform

Brokerage firm Wells Fargo Downgrades its rating on Western Asset Mortgage Capital Corp(NYSE:WMC). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Wells Fargo was issued on Apr 11, 2016.

In a different note, On Mar 10, 2016, Deutsche Bank said it Maintains its rating on Western Asset Mortgage Capital Corp. In the research note, the firm Lowers the price-target to $13.00 per share. The shares have been rated ‘Hold’ by the firm.

Western Asset Mortgage Capital Corp (WMC) shares turned negative on Fridays trading session with the shares closing down -0.13 points or -1.30% at a volume of 2,78,052. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.055. The peak price level was also seen at $10.055 while the days lowest was $9.88. Finally the shares closed at $9.88. The 52-week high of the shares is $15.65 while the 52-week low is $8.04. According to the latest information available, the market cap of the company is $414 M.

Western Asset Mortgage Capital Corp(WMC) last announced its earnings results on Mar 1, 2016 for Fiscal Year 2015 and Q4.Earnings per share were $0.39.

Several Insider Transactions has been reported to the SEC. On Apr 8, 2016, Gavin L James (CEO) purchased 3,006 shares at $11.92 per share price.Also, 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).

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