Loading...
Loading...
JP Morgan analyst Steven Kent published a report on Western Asset Mortgage
WMC that maintained its Overweight rating and raised the price target from $21.50 to $22.
JP Morgan reported that, “Last week, (3/6/2013), WMC reported 4Q results. Performance was solid, and the company beat our estimates on core EPS ($1.05 vs JPMe $0.96) and NII ($26.6M vs, JPMe $25.3M). Higher leverage (9.24x D/E) and a low CPR print (3.6%) contributed to the strong results. Quarterly results served to underscore WMC as our top pick in the residential mortgage REIT space.”
Shares of Western Asset Mortgage closed at $22.66 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in