Welcome to our dedicated page for Western Asset Mortgage Capital Corporation news (Ticker: WMC), a resource for investors and traders seeking the latest updates and insights on Western Asset Mortgage Capital Corporation stock.
Western Asset Mortgage Capital Corporation (WMC) is a leading investment management company specializing in mortgage-related assets. Headquartered in Englewood, Colorado, WMC operates from its office at 8400 E Prentice Ave #1401. The company focuses on acquiring, financing, and managing a diverse portfolio of residential and commercial mortgage loans, as well as mortgage-backed securities.
WMC leverages its relationship with Western Asset Management Company, a globally recognized asset manager, to optimize its investment strategies. This partnership allows WMC to benefit from extensive market insights, robust risk management frameworks, and an experienced team of professionals dedicated to delivering value to shareholders.
Core Business
Western Asset Mortgage Capital Corporation primarily invests in a wide range of mortgage-backed assets. Their portfolio includes agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other related investments. By diversifying their holdings, WMC aims to achieve attractive risk-adjusted returns for their investors.
Recent Achievements
WMC has made significant strides in optimizing its portfolio and enhancing shareholder value. Recent initiatives include strategic acquisitions and dispositions that align with prevailing market conditions, effectively managing interest rate risks, and maintaining a strong balance sheet.
Current Projects
The company continues to explore new investment opportunities in the mortgage-backed securities market. These projects are designed to capitalize on favorable market trends and regulatory environments, ensuring sustainable growth and profitability.
Financial Condition
WMC maintains a strong financial position, with a focus on prudent risk management and capital preservation. The company's robust financial health is complemented by its commitment to transparency and regular communication with stakeholders.
Partnerships
Western Asset Mortgage Capital Corporation's strategic partnership with Western Asset Management Company plays a crucial role in its success. This collaboration provides WMC with access to cutting-edge research, seasoned investment professionals, and a comprehensive risk management framework.
Products
WMC offers a range of investment products tailored to meet the needs of institutional and individual investors. These products are designed to provide exposure to high-quality mortgage-backed securities, offering attractive yields and stable returns.
For the latest updates and detailed information on Western Asset Mortgage Capital Corporation's performance, events, and developments, stay tuned to our news section.
Western Asset Mortgage Capital Corporation (WMC) reported its fourth quarter and full year 2021 results, indicating a GAAP net loss of $12.1 million ($0.20/share) for Q4 and a total annual loss of $49.0 million ($0.81/share). The company is transitioning to focus on residential real estate investments, acquiring $184.5 million in residential whole loans. It also sold a hotel property, estimating a gain of $6.7 million. WMC repurchased shares and extended its share repurchase program. WMC declared a total annual dividend of $0.24, with a yield of 11.4% based on year-end stock price.
Western Asset Mortgage Capital Corporation (NYSE: WMC) announced the pricing of $398.9 million in Mortgage-Backed Notes, Series 2022-1, secured by a portfolio of residential whole loans. The Notes feature a weighted average fixed interest rate of 3.1% and are set to mature in December 2056. This is the company's third securitization of residential loans, aimed at securing long-term financing. The offering is expected to close on February 11, 2022, and will be privately placed with qualified institutional investors. S&P and DBRS are anticipated to rate select class notes as AAA.
Western Asset Mortgage Capital Corporation (NYSE: WMC) will release its financial results for Q4 and the full year ended December 31, 2021, after market close on March 2, 2022. A conference call is scheduled for March 3, 2022, at 11:00 a.m. ET, where management will discuss the results and address investor inquiries. Investors can pre-register to join the call to streamline access. A telephone replay will be available until March 10, 2022. The company focuses on a diverse portfolio including Residential Whole Loans and Non-Agency CMBS.
Western Asset Mortgage Capital Corporation (NYSE: WMC) provided details on the tax treatment of its common stock dividends for 2021. The total ordinary dividend for the year was $0.30 per share, with each distribution rate being $0.06. The dividends are deemed taxable income, and stockholders are encouraged to consult the provided IRS Form 1099-DIV for further details. The cash distributions are considered a return of capital due to operational impacts from the COVID-19 pandemic. Shareholders should consult tax advisors for personalized tax guidance.
Western Asset Mortgage Capital Corporation (NYSE: WMC) has declared a cash dividend of $0.06 per share for Q4 2021, payable on January 26, 2022. Shareholders of record as of December 31, 2021 will qualify for this dividend. The company estimates its GAAP book value per share at approximately $3.31 as of November 30, 2021, which is unaudited and subject to change. Additionally, WMC plans to focus on residential real estate investments and has extended its share repurchase program until December 31, 2023.
Western Asset Mortgage Capital Corporation (WMC) announced its third-quarter financial results for 2021, revealing a GAAP net loss of $4.2 million, or $0.07 per share, and a decline in GAAP book value per share to $3.45. The company repurchased $100.3 million of its 2022 Convertible Senior Unsecured Notes, enhancing liquidity. Notably, the distributable earnings increased to $3.8 million, or $0.06 per share, up from $2.8 million in the previous quarter. The firm also strengthened its balance sheet by issuing $86.3 million in new 2024 notes.
Western Asset Mortgage Capital Corporation (NYSE: WMC) will release its third-quarter financial results for the period ending September 30, 2021 after market close on November 4, 2021. A live conference call is scheduled for November 5, 2021, at 12:00 p.m. ET to discuss the results and answer investor questions. Participants can pre-register online to expedite entry. A telephone replay will be available until November 12, 2021, and a webcast replay will be accessible for 90 days.
Western Asset Mortgage Capital Corporation (WMC) has declared a cash dividend of $0.06 per share for Q3 2021. This dividend will be payable on October 26, 2021, to shareholders of record as of October 4, 2021, with an ex-dividend date of October 1, 2021. Additionally, the estimated GAAP book value per share as of August 31, 2021, is $3.67, subject to adjustments and market conditions. This information is critical for investors tracking WMC's performance and dividends.
Western Asset Mortgage Capital Corporation (NYSE: WMC) has priced a public offering of $75 million of its 6.75% Convertible Senior Notes due 2024. The underwriter has an option to purchase an additional $11.25 million of notes. The offering is set to close around September 14, 2021. The notes will incur 6.75% annual interest, with conversions possible into cash or shares starting June 15, 2024. Proceeds will be used to repurchase ~$100.3 million of older notes. JMP Securities is the sole underwriter for this offering.
Western Asset Mortgage Capital Corporation (NYSE: WMC) announced its intention to offer Convertible Senior Notes due September 15, 2024. The offering includes a 30-day option for the underwriter to purchase additional Notes. The Company plans to use the net proceeds, along with $25 million in cash, to repurchase outstanding 6.75% Convertible Senior Notes due October 1, 2022, and for general corporate purposes. The interest rate and initial conversion rate will be set at the time of pricing.
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