Wunderlich Upgrades Western Asset Mortgage Capital Corp to Buy with Price Target $11.00

Brokerage firm Wunderlich Upgrades its rating on Western Asset Mortgage Capital Corp(NYSE:WMC). In a research note issued to the investors, the brokerage major Raises the price-target to $11.00 per share. The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Wunderlich was issued on Aug 5, 2016.

In a different note, On Jun 29, 2016, Bank of America said it Downgrades its rating on Western Asset Mortgage Capital Corp. The shares have been rated ‘Neutral’ by the firm. On Jun 27, 2016, Wunderlich said it Upgrades its rating on Western Asset Mortgage Capital Corp. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Hold’ by the firm. On May 10, 2016, Wunderlich said it Downgrades its rating on Western Asset Mortgage Capital Corp. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Sell’ by the firm.

Western Asset Mortgage Capital Corp (WMC) shares turned negative on Wednesdays trading session with the shares closing down -0.03 points or -0.28% at a volume of 2,59,820. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.81. The peak price level was also seen at $10.81 while the days lowest was $10.69. Finally the shares closed at $10.76. The 52-week high of the shares is $13.6 while the 52-week low is $8.04. According to the latest information available, the market cap of the company is $451 M.

Western Asset Mortgage Capital Corp(WMC) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $21.49M. Analysts had an estimated revenue of $33.92M. Earnings per share were $0.30.

Several Insider Transactions has been reported to the SEC. On Apr 13, 2016, Gavin L James (CEO) purchased 730 shares at $15.21 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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