JMP Securities Starts Western Asset Mortgage Capital (WMC) at Market Perform
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JMP Securities initiates coverage on Western Asset Mortgage Capital (NYSE: WMC) with a Market Perform rating.
Analyst Trevor Cranston believes the company has a strong external manager, a compelling strategy, and an attractive dividend yield. He believes shares are fairly valued currently and would view any pullback in the price as an attractive investment opportunity.
FY 2017 Core EPS is for $1.18 and FY 2018 Core EPS is for $1.25.
Shares of Western Asset Mortgage Capital closed at $10.25 yesterday.
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