UPDATE: Deutsche Bank Raises PT on Western Asset Mortgage Capital on 1Q Dividend

In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Western Asset Mortgage Capital

, and slightly raised the price target from $23.00 to $24.00. In the report, Poole noted, “WMC declares 1Q dividend of 95c; Maintain 1Q estimate, but upside possible. WMC's 1Q dividend increased sequentially from 90c and was 5c above our estimate. The dividend is payable on April 30 to stockholders of record as of April 12. The ex-dividend date is April 10. We are maintaining our 1Q core EPS estimate of 90c, which is down sequentially from the revised 4Q core EPS of 96c. We believe the 1Q dividend could include some gains on sale of MBS, which we do not include in our estimate; however, given the dividend it is possible that 1Q core earnings beat our estimate.” Western Asset Mortgage Capital closed on Tuesday at $23.29.