First Trust Advisors LP Raises Position in Western Asset Mortgage Capital Corp (WMC)

First Trust Advisors LP increased its position in shares of Western Asset Mortgage Capital Corp (NYSE:WMC) by 37.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,733 shares of the financial services provider’s stock after purchasing an additional 23,524 shares during the quarter. First Trust Advisors LP owned 0.18% of Western Asset Mortgage Capital worth $723,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WMC. Renaissance Technologies LLC lifted its holdings in shares of Western Asset Mortgage Capital by 48.7% during the third quarter. Renaissance Technologies LLC now owns 2,019,910 shares of the financial services provider’s stock worth $20,239,000 after purchasing an additional 661,810 shares during the period. Vanguard Group Inc lifted its holdings in shares of Western Asset Mortgage Capital by 14.1% during the third quarter. Vanguard Group Inc now owns 2,080,151 shares of the financial services provider’s stock worth $20,843,000 after purchasing an additional 257,111 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Western Asset Mortgage Capital by 14.1% during the third quarter. Vanguard Group Inc. now owns 2,080,151 shares of the financial services provider’s stock worth $20,843,000 after purchasing an additional 257,111 shares during the period. BlueMountain Capital Management LLC acquired a new stake in shares of Western Asset Mortgage Capital during the third quarter worth about $2,505,000. Finally, BlackRock Inc. lifted its holdings in shares of Western Asset Mortgage Capital by 5.0% during the third quarter. BlackRock Inc. now owns 4,121,398 shares of the financial services provider’s stock worth $41,296,000 after purchasing an additional 194,997 shares during the period. 46.93% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Dennis Joseph Mcnamara purchased 3,446 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $10.34 per share, with a total value of $35,631.64. Following the completion of the acquisition, the insider now owns 5,204 shares of the company’s stock, valued at approximately $53,809.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.

A number of equities research analysts recently commented on the company. Zacks Investment Research raised Western Asset Mortgage Capital from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Thursday, March 21st. Keefe, Bruyette & Woods initiated coverage on Western Asset Mortgage Capital in a report on Sunday, March 17th. They issued a “market perform” rating and a $10.50 price target for the company.

NYSE:WMC traded down $0.03 during trading hours on Friday, reaching $10.41. The company had a trading volume of 146,819 shares, compared to its average volume of 279,828. Western Asset Mortgage Capital Corp has a 1-year low of $8.26 and a 1-year high of $11.38. The company has a market capitalization of $500.89 million, a PE ratio of 7.65 and a beta of 0.74. The company has a current ratio of 683.24, a quick ratio of 683.24 and a debt-to-equity ratio of 7.71.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 11.91%. The ex-dividend date is Friday, March 29th. Western Asset Mortgage Capital’s payout ratio is presently 91.18%.

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Western Asset Mortgage Capital Profile

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, securitized commercial loans, and other financial assets.

Read More: Cost of Capital Explained

Institutional Ownership by Quarter for Western Asset Mortgage Capital (NYSE:WMC)

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