Market Overview

UPDATE: National Securities Initiates Western Asset Mortgage at Buy on ROE Visibility

Share:
Related WMC
UPDATE: Compass Point Downgrades Western Asset Mortgage Capital to Neutral on Valuation
UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Western Asset Mortgage Capital
Fun With Mortgage REITs (Seeking Alpha)

National Securities initiated its coverage on Western Asset Mortgage (NYSE: WMC) with a Buy rating based on return on equity outlook and book value stability.

National Securities noted, "We are initiating coverage of agency mortgage real estate investment trust (mREIT) Western Asset Mortgage Capital Corp (WMC) with a “BUY” rating as we expect that 1) WMC may generate an annualized return on equity (ROE) of 15% in 2013; 2) WMC's $20.17 Q2'12 book value should stay stable due to its interest rate hedging strategy; and 3) WMC stock price should trade in line with book value."

Western Asset Mortgage closed at $21.06 on Monday.

Latest Ratings for wmc

DateFirmActionFromTo
May 2016WunderlichDowngradesHoldSell
Apr 2016Wells FargoDowngradesMarket PerformUnderperform
Mar 2016Deutsche BankMaintainsHold

View More Analyst Ratings for wmc
View the Latest Analyst Ratings

Posted-In: national securitiesAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (wmc)

View Comments and Join the Discussion!