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UPDATE: Jefferies Initiates Buy, $21 PT on Western Asset Mortgage Capital; Active Portfolio Management

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Jefferies initiates its coverage on Western Asset Mortgage Capital (NYSE: WMC) with a Buy rating and a price target of $21.

Jefferies says, "WMC will espouse an active management approach as opposed to a "buy and hold" strategy. Since investors are paying for the management of securities via a management fee and/or G&A expenses, we'd prefer investors own the REIT that is actively managed as opposed to the “buy and hold” strategy."

WMC closed at $18.52 on Friday.

Latest Ratings for wmc

DateFirmActionFromTo
Jan 2017WunderlichDowngradesBuyHold
Aug 2016CitigroupMaintainsNeutral
Aug 2016Bank of AmericaMaintainsNeutral

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Posted-In: JefferiesAnalyst Color Price Target Initiation Pre-Market Outlook Analyst Ratings

 

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