Western Asset Mortgage Capital (WMC) Tops Q3 EPS by 3c

Western Asset Mortgage Capital (NYSE: WMC) reported Q3 EPS of $0.10, $0.03 better than the analyst estimate of $0.07.

Third quarter financial results included the following:

• GAAP book value per share was $4.07, increased $0.92 from $3.156 in the second quarter.
• GAAP net income of $59.8 million, or $0.98 per basic and diluted share.
• Economic return on GAAP book value was 30.8% for the quarter.1,3
• Economic book value per share of $4.112 increased 2.2% from $4.026 in the second quarter
• Core earnings of $6.4 million, or $0.10 per basic and diluted share.1
• 2.27% annualized net interest margin on our investment portfolio. 1,4,5
• Reduced recourse leverage to 2.2x, down from 3.0x at June 30, 2020.
• Resumed our quarterly dividend, declaring a $0.05 per share cash dividend.

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

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