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-0.000699300699300684 -0.00139860139860137 -0.00629370629370628 -0.00629370629370628 0.00139860139860137 0.00209790209790205 -0.00209790209790205 0.00279720279720274
Stock impact report

Western Asset Mortgage Capital: Recent Dividend Cut And Declining Book Value [Seeking Alpha]

MFA Financial, Inc. (MFA) 
Last mfa financial, inc. earnings: 2/20 08:30 am Check Earnings Report
US:NYSE Investor Relations: mfafinancial.com
Company Research Source: Seeking Alpha
Dilok Klaisataporn/iStock via Getty ImagesInvestment thesisWestern Asset Mortgage Capital Corporation (NYSE:WMCvalue destroyer assets in the commercial loan space and instead focus on residential real estate assets. They also had to cut the dividend by 33% due to the losses in 2021. I am neutral on WMC because I see the chance that after the portfolio transition the company might return to profitability and management will be able to slowly grow the book value. There is only one downside: this is a bit far from now due to the likelihood portfolio restructuring will finish at the end of 2022.Business ModelWMC is a micro-cap mortgage real estate investment trust. It is the 40th in terms of market cap among the41 publicly traded U.S. mtheir portfolio crashedFourth Quarter 2021 PresentationFinancials & EarningsQ4 and full-year resultsIn December 2021, management made it clear that they want to do a major portfolio shift to residential real estate-related investments. In the fourth quarter Show less Read more
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