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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 (NYSE: WMC) announced the resignation of Jennifer Murphy as President and CEO, effective October 1, 2021. Bonnie Wongtrakool has been appointed as the new CEO, with Lisa Meyer taking on the role of President, while also serving as CFO. Wongtrakool, a long-time member of Western Asset, will also join the Board of Directors. Murphy will stay on as a Senior Advisor until December 31, 2021, to facilitate the transition. The leadership changes are aimed at steering the company through its investment strategies and maintaining operational continuity.
Western Asset Mortgage Capital Corporation (WMC) reported a GAAP net loss of $40.2 million for Q2 2021, equating to a loss of $0.66 per share. This loss was significantly impacted by a $48.7 million unrealized decline in a non-performing commercial mezzanine loan. As of June 30, 2021, the GAAP book value per share was $3.55, a 16.9% decrease from the previous quarter. The Company declared a dividend of $0.06 per share, yielding approximately 7.4%. Despite these challenges, management remains optimistic about future asset value recoveries and ongoing balance sheet strengthening efforts.
Western Asset Mortgage Capital Corporation (NYSE: WMC) will disclose its second-quarter financial results for the period ending June 30, 2021, after market hours on August 3, 2021. A conference call to discuss these results is scheduled for August 4, 2021, at 11:00 a.m. ET. Investors can pre-register for the call to expedite access and avoid waiting for an operator. A telephone replay will be available until August 11, 2021, along with a webcast replay accessible for 90 days. The Company engages in a diversified investment strategy involving various mortgage-related assets.
Western Asset Mortgage Capital Corporation (NYSE: WMC) has declared a cash dividend of $0.06 per share for Q2 2021, payable on July 26, 2021 to shareholders on record as of July 2, 2021. The estimated GAAP book value per share as of May 31, 2021 is approximately $3.49, showing a decline from the previous quarter primarily due to a non-performing commercial real estate mezzanine loan of $90 million. The company is negotiating with borrowers regarding debt restructuring, but outcomes remain uncertain.
Western Asset Mortgage Capital Corporation (WMC) reported its first quarter 2021 financial results, showing a GAAP net income of $8.0 million or $0.13 per share. The GAAP book value per share increased to $4.27, reflecting a 1.7% rise from the previous quarter. Core earnings stood at $6.1 million, or $0.10 per share, with an economic return on GAAP book value of 3.1%. The company declared a common dividend of $0.06 per share and repurchased $6.7 million of convertible senior unsecured notes at a discount. Liquidity improved through amended financing facilities.
Western Asset Mortgage Capital Corporation (NYSE: WMC) is set to release its financial results for Q1 ended March 31, 2021, after market close on May 5, 2021. A conference call to discuss the results will occur on May 6, 2021, at 11:00 a.m. ET. Investors may pre-register for the call for quicker entry. The Company primarily invests in a diverse portfolio, including Residential Whole Loans and Non-Agency CMBS, managed by Western Asset Management Company.
Western Asset Mortgage Capital Corporation (WMC) has declared a cash dividend of $0.06 per share for Q1 2021, payable on April 26, 2021. Shareholders of record as of April 2, 2021 will receive this dividend, with an ex-dividend date of March 31, 2021. Additionally, the estimated GAAP book value per share as of February 28, 2021 is approximately $4.08, noting that this figure is unaudited and subject to further reconciliation.
Western Asset Mortgage Capital Corporation (WMC) reported its fourth quarter and full year results for 2020, highlighting a GAAP book value per share of $4.20, up from $4.07 in Q3. The company recorded a net income of $10.8 million for Q4, equating to $0.18 per share, with core earnings of $7.2 million ($0.12 per share). Notably, full-year results showed a net loss of $328.3 million, reflecting the pandemic's challenges. Key actions included reducing debt, increasing liquidity, and resuming dividends, with a Q4 payout of $0.06. The company anticipates continued recovery in asset values and earnings sustainability.
Western Asset Mortgage Capital Corporation (NYSE: WMC) has announced the tax treatment of its common stock dividends for 2020. The dividends declared include a total of $0.42 per share, with specific amounts distributed on two key dates:
- Record Date: 12/28/2020, Payment Date: 01/26/2021, Distribution Rate: $0.06
- Record Date: 10/02/2020, Payment Date: 10/26/2020, Distribution Rate: $0.05
Due to the COVID-19 pandemic's impact, distributions are considered a “Return of Capital.” Shareholders should consult their tax advisors for detailed tax implications related to these dividends.
Western Asset Mortgage Capital Corporation (NYSE: WMC) will release its fourth quarter and annual financial results on March 3, 2021, after market close. A conference call is scheduled for March 4, 2021, at 11:00 a.m. ET to discuss the results and take questions. Investors can pre-register for the call to speed up entry. A telephone replay will be available until March 18, 2021. The Company invests in a diverse portfolio including residential and commercial loans and is managed by Western Asset Management Company, LLC.
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