Western Asset Mortgage Capital (WMC) Tops Q2 EPS by 4c

Western Asset Mortgage Capital (NYSE: WMC) reported Q2 EPS of $0.36, $0.04 better than the analyst estimate of $0.32.

• June 30, 2018 book value per share of $11.10, net of second quarter common dividend of $0.31 per share declared on June 21, 2018.
• GAAP net income of $1.5 million, or $0.03 per basic and diluted share.
• Core earnings plus drop income of $15.2 million, or $0.36 per basic and diluted share.1,2
• Economic return on book value was 0.4%1,3 for the quarter.
• 2.05% annualized net interest margin on our investment portfolio. 1,4,5
• 7.3x leverage excluding securitized debt as of June 30, 2018 (10.0x leverage with securitized debt).
• Acquired $327.6 million in target assets, including $275.1 million of credit sensitive assets.
• Repurchased 63,300 shares of common stock at an average price of $9.88 per share.

For earnings history and earnings-related data on Western Asset Mortgage Capital (WMC) click here.

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