Streetbeat News

WMC

Western Asset Mortgage Capital Corp

http://www.westernassetmcc.com/

CEO

Jennifer Murphy

Industry

Other Financial Vehicles

capital west asset management is an investment management company located in 8400 e prentice ave # 1401, englewood, colorado, united states.

Open

8.82

Mkt cap

56M

Volume

33K

High

9.20

P/E Ratio

-4.73

52-wk high

11.64

Low

8.66

Div yield

0.01

52-wk low

7.82

Western Asset Mortgage Capital Corporation (WMC) stockholders have approved the merger with AG Mortgage Investment Trust, Inc. (MITT). Approximately 55% of WMC's outstanding shares voted in favor of the merger, which will result in WMC merging into MITT's subsidiary, Merger Sub, with Merger Sub as the surviving entity. Upon completion, WMC shareholders will receive 1.498 shares of MITT stock and a cash payment from MITT Manager. The merger is expected to close on December 6, 2023, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:16 pm

Western Asset Mortgage Capital has announced its intention to adjourn the special meeting of stockholders until December 5, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:18 pm

Western Asset Mortgage (NYSE:WMC) has announced a quarterly dividend of 14 cents per share. The stock will go ex-dividend on Thursday, meaning it will likely open 14 cents lower. Shareholders who own WMC as of the end of Wednesday's session are eligible to receive the dividend payout. The dividend will be paid out to shareholders on November 08, 2023.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 2:45 pm

The article lists four financial stocks that are currently oversold, presenting a potential buying opportunity. These include Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI), AssetMark Financial Holdings, Inc. (AMK), Western Asset Mortgage Capital Corporation (WMC), and Walker & Dunlop, Inc. (WD). The stocks have been identified as oversold based on their Relative Strength Index (RSI) values, which are all below 30.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 12:08 pm

Western Asset Mortgage (NYSE:WMC) has announced a quarterly dividend of 35 cents per share. The stock will go ex-dividend on Friday, meaning it will likely open 35 cents lower. Shareholders who own WMC as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on October 26, 2023.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 2:45 pm

Terra Property Trust (TPT) has submitted an enhanced merger proposal to Western Asset Mortgage Capital Corporation (WMC), offering WMC stockholders $15.96 per share. This proposal is said to deliver superior value compared to the unsolicited offer from AG Mortgage Investment Trust (MITT). TPT's proposal includes larger value on a total and cash basis, lower management fees, and greater certainty of closing. The proposal also includes a performance-based, tiered incentive fee structure, which is superior to the model used by Angelo Gordon.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:10 pm

Western Asset Mortgage Capital Corporation's (WMC) board has determined that AG Mortgage Investment Trust's (MITT) proposal is superior to the Terra Property Trust merger agreement. Under MITT's proposal, each WMC common stock would be converted into 1.468 shares of MITT common stock and a cash payment from MITT's external manager. The manager would also waive $2.4 million of management fees in the first year post-closing.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 5:55 am

The real estate investment trust (REIT) sector has seen a surge in merger and acquisition (M&A) activity. AG Mortgage Investment Trust (NYSE:MITT) has offered to acquire Western Asset Mortgage Capital Corp. (NYSE:WMC), disrupting a potential merger with Terra Property Trust Inc. Global Net Lease Inc. (NYSE:GNL) plans to acquire Necessity Retail REIT Inc. (NASDAQ:RTL) to diversify its holdings. Office Properties Income Trust (NASDAQ:OPI) acquired Diversified Healthcare Trust (NASDAQ:DHC) in an all-share transaction, despite opposition from shareholders. Extra Space Storage Inc. (NYSE:EXR) and Life Storage Inc. (NYSE:LSI) merger was approved by shareholders, and Ellington Financial Inc. (NYSE:EFC) announced its acquisition of Arlington Asset Investment Corp. (NYSE:AAIC) and Great Ajax Corp. (NYSE:AJX).

Portfolio Pulse from Ethan Roberts

July 27, 2023 | 8:15 pm

Terra Property Trust (TPT) has acquired a 5.2% stake in AG Mortgage Investment Trust (MITT), stating that MITT is undervalued. TPT is considering all options to unlock this value, including a strategic combination involving MITT. TPT also reaffirms its commitment to complete the merger with Western Asset Mortgage Capital Corporation (WMC) in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 9:20 pm

Western Asset Mortgage Capital (WMC) has received a non-binding proposal from AG Mortgage Investment Trust (MITT) to acquire WMC. The WMC board has determined that this proposal is reasonably expected to lead to a superior proposal and intends to engage in discussions with MITT. Each outstanding share of WMC common stock would be converted into 1.468 shares of MITT common stock and a cash payment from MITT's external manager.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:53 pm

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