Western Asset Mortgage Capital

Western Asset Mortgage Capital Corp. operates as a real estate investment trust. The firm engages in managing a diversified portfolio of assets. It focuses on investing in, financing and managing real estate related securities, whole loans and other financial assets. The company was founded on June 3, 2009 and is headquartered in Salt Lake City, UT.

Earnings data Q4 2019

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Earnings data Q2 2024

Western Asset Mortgage Capital reports Q4 declines, eyes strategic reshaping

Western Asset Mortgage Capital (WMC) faced declines in book value per share and distributable earnings in Q4 2022. Despite challenges in stabilizing earnings, the company showcased strengths in its non-QM portfolio performance and stable commercial holdings. Opportunities lie in the ongoing strategic review process and potential for reshaping the company's future through enhanced shareholder value.

Western Asset Mortgage Capital (WMC) reports growth and explores strategic options

Western Asset Mortgage Capital (WMC) delivered a solid performance in Q1 2023, marked by increased book values and distributable earnings.
The company's strategic review for a potential sale or merger aims to enhance shareholder value and drive future growth.
Despite challenges such as debt reduction and economic uncertainties, WMC remains focused on financial stability and portfolio performance.

Western Asset Mortgage Capital announces merger with MITT, strategic outlook

WMC's Q2 2023 earnings call highlighted the merger with MITT, offering shareholders a premium and strategic benefits. While facing challenges in earnings and book value, the company aims to capitalize on opportunities for cost savings and growth. Maintaining the dividend reflects stability amidst changes in the residential mortgage credit market.

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Western Asset Mortgage Capital is a  financial REIT company. They offer  aims to provide attractive risk-adjusted returns to its investors over the long-term across market conditions and economic cycles.

AG Mortgage Investment Trust

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company,” “we,” or “WMC”) (NYSE: WMC) announced today that its stockholders have voted to approve the proposed merger transaction with AG Mortgage Investment Trust, Inc. (“MITT”) (NYSE: MITT) at a special meeting of stockholders of WMC held today. Approximately 55% of the issued and outstanding shares of WMC common stock entitled to vote at the special meeting of stockholders of WMC voted in favor of the adoptio.

Western Asset Mortgage Capital Corporation Announces Stockholder Approval of Merger With AG Mortgage Investment Trust

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) announced that its Board of Directors has declared a second interim fourth quarter dividend of $0.10 per common share in light of the adjournment of the special meeting of WMC stockholders until December 5, 2023. The dividend is payable on December 5, 2023 to stockholders of record as of November 30, 2023. The second interim fourth quarter dividend is being made in connection with the previously an.

Western Asset Mortgage Capital Corporation Announces Second Interim Fourth Quarter Common Dividend of $0.10 Per Share

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) announced that it expects to adjourn its special meeting of stockholders (the “Special Meeting”) relating to the proposed merger with AG Mortgage Investment Trust, Inc. (“MITT”) until December 5, 2023, at 9:00 a.m. Pacific Time, online in a virtual-only meeting format, due to a lack of quorum and to allow further solicitation of proxies from WMC common stockholders for the approval of the merger at.

Western Asset Mortgage Capital Corporation Expects to Adjourn Special Meeting of Stockholders Until December 5, 2023

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company,” “we,” or “WMC”) (NYSE: WMC) announced today that Glass Lewis became the second leading independent proxy advisory firm, joining Institutional Shareholder Services Inc. (ISS), to recommend that stockholders vote “FOR” the proposed merger with AG Mortgage Investment Trust, Inc. (“MITT”), in which each outstanding share of WMC common stock will be converted into the right to receive (i) 1.498 shares of MI.

Leading Independent Proxy Advisory Firm Glass Lewis Joins ISS in Recommending Western Asset Mortgage Capital Corporation Stockholders Vote “FOR” the Proposed Merger With AG Mortgage Investment Trust

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company,” “we,” or “WMC”) (NYSE: WMC) announced today that leading proxy advisory firm Institutional Shareholder Services Inc. (“ISS”) recommends that stockholders vote “FOR” the proposed merger with AG Mortgage Investment Trust, Inc. (“MITT”), in which each outstanding share of WMC common stock will be converted into the right to receive (i) 1.498 shares of MITT common stock and (ii) the per share portion of a.

Leading Independent Proxy Advisory Firm ISS Recommends Western Asset Mortgage Capital Corporation Stockholders Vote “For” the Proposed Merger With AG Mortgage Investment Trust

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) announced that its Board of Directors has declared an interim fourth quarter dividend of $0.14 per common share. The dividend is payable on November 8, 2023 to stockholders of record as of November 3, 2023. The interim fourth quarter dividend is being made pursuant to the terms of the previously announced Agreement and Plan of Merger, dated as of August 8, 2023 (the “Merger Agreement”), by and amon.

Western Asset Mortgage Capital Corporation Announces Interim Fourth Quarter Common Dividend of $0.14 Per Share

NEW YORK--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT”), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P. (“Angelo Gordon”), a leading $74 billion alternative investment firm, and Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”), jointly announced today that they have determined the final exchange ratio in accordance with the terms of the Agreement and Plan of Merger, dated as.

AG Mortgage Investment Trust and Western Asset Mortgage Capital Corporation Announce Final Exchange Ratio for Proposed Merger

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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Western Asset Mortgage Capital Corporation (NYSE: WMC) to AG Mortgage Investment Trust, Inc. (NYSE: MITT). Under the terms of the proposed transaction, shareholders of Western Asset are expected to own approximately 31% of the combined company. KSF is seeking to determine whether the consideration and the proc.

WESTERN ASSET INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Western Asset Mortgage Capital Corporation - WMC

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company”) (NYSE: WMC) announced today that its Board of Directors has declared a cash dividend of $0.35 per share for the third quarter of 2023. Today's dividend is payable on October 26, 2023 to common shareholders of record as of October 2, 2023, with an ex-dividend date of September 29, 2023. In addition, the Company estimates that its GAAP book value per share, as of August 31, 2023, was approximately $13.97.

Western Asset Mortgage Capital Corporation Declares Third Quarter Dividend of $0.35 Per Share

Western Asset Mortgage Capital Corporation (NYSE:WMC ) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET Company Participants Jeff Haas - Director, Financial Profiles, Inc. Bonnie Wongtrakool - Chief Executive Officer Sean Johnson - Deputy Chief Investment Officer Greg Handler - Chief Investment Officer Robert Lehman - Chief Financial Officer Operator Welcome to the Western Asset Mortgage Capital Corporation's Second Quarter 2023 Earnings Conference Call. Today's call is being recorded and will be available for replay beginning at 5:00 p.m.

Western Asset Mortgage Capital Corporation (WMC) Q2 2023 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Terra Property Trust, Inc. (“TPT” or “we”) today issued the below statement regarding its terminated merger agreement with Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”). Vik Uppal, Chairman & CEO of TPT and Mavik Capital Management, L.P., commented: "We are disappointed that we could not come to an agreement with WMC's Board of Directors to merge. Our innovative proposal provided superior value to WMC stockholders in every regard, including higher.

Terra Property Trust Issues Statement Regarding Terminated Transaction with Western Asset Mortgage Capital Corporation

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Western Asset Mortgage Capital Corporation (NYSE: WMC) to AG Mortgage Investment Trust, Inc. for stock and cash is fair to Western Asset shareholders. Upon the closing of the merger, Western Asset shareholders are expected to own approximately 31% of the combined company's stock. Halper Sadeh encourages Western Asset shareholders to click here to learn more about their legal rights and.

WMC Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of Western Asset Mortgage Capital Corporation Is Fair to Shareholders

NEW YORK--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT”), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P. (“Angelo Gordon”), a leading $73 billion alternative investment firm, and Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”), today announced that they have entered into a definitive merger agreement, pursuant to which MITT will acquire WMC in a fixed exchange ratio stock/ca.

AG Mortgage Investment Trust and Western Asset Mortgage Capital Corporation Announce Definitive Merger Agreement

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company,” “we,” or “WMC”) (NYSE: WMC) today reported its results for the second quarter ended June 30, 2023. BUSINESS UPDATE The Company continues to execute on its business strategy to take actions to strengthen its balance sheet: For the three months ended June 30, 2023: the Company received $28.4 million from the sale or repayment of Residential Whole Loans and Non-Agency RMBS; the Company received $1.1 milli.

Western Asset Mortgage Capital Corporation Announces Second Quarter 2023 Results

NEW YORK--(BUSINESS WIRE)--Terra Property Trust, Inc. today released the below letter sent to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE: WMC). *** August 03, 2023 Western Asset Mortgage Capital Corporation 385 E. Colorado Blvd. Pasadena, CA 91101 Attention: The Board of Directors Dear Members of the Board of Directors, I write to you on behalf of Terra Property Trust, Inc. (“TPT” or “we”) to reaffirm our commitment to consummating a merger with Western Asset Mor.

Terra Property Trust Delivers Enhanced Merger Proposal to Western Asset Mortgage Capital Corporation

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) today announced that WMC's board of directors has determined in good faith, after consultation with its financial advisors and outside legal counsel, that the unsolicited proposal from AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT”) to acquire WMC is a “Parent Superior Proposal” within the meaning of WMC's merger agreement with Terra Property Trust, Inc. (“TPT”). Under the terms of MITT's.

Western Asset Mortgage Capital Corporation Board Determines AG Mortgage Investment Trust, Inc. Proposal Is Superior to Terra Property Trust, Inc. Merger Agreement

NEW YORK , July 25, 2023  /PRNewswire/ -- Terra Property Trust, Inc. ("TPT"), a real estate investment trust externally managed by a subsidiary of Mavik Capital Management, LP ("Mavik"), today announced that it has acquired approximately 5.2% of the outstanding shares of common stock of AG Mortgage Investment Trust, Inc. (NYSE: MITT) ("MITT") as of July 24, 2023, making TPT the second-largest stockholder of MITT. As disclosed in a Schedule 13D filed today by TPT and other reporting persons, TPT believes that MITT is undervalued and intends to consider all options to unlock this value in a constructive manner for its stockholders, including, without limitation, a strategic combination involving MITT.

Terra Property Trust Acquires 5.2% Stake in AG Mortgage Investment Trust to Unlock Value

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) today announced that WMC's board of directors has determined in good faith, after consultation with its financial advisors and outside legal counsel, that the unsolicited proposal from AG Mortgage Investment Trust, Inc. (NYSE: MITT)(“MITT”) to acquire WMC is reasonably expected to lead to a “Parent Superior Proposal” within the meaning of WMC's merger agreement with Terra Property Trust, Inc. (“TPT.

Western Asset Mortgage Capital Corporation to Engage in Discussions With AG Mortgage Investment Trust, Inc.

Underscores Compelling Strategic Benefits for WMC Stockholders Clarifies Items Contained in Press Release by AG Mortgage Investment Trust, Inc. NEW YORK , July 13, 2023 /PRNewswire/ -- Terra Property Trust, Inc. ("TPT"), an externally managed real estate investment trust ("REIT") that originates, invests in, and manages loans and assets secured by commercial real estate ("CRE"), today reaffirmed its commitment to the previously announced combination with Western Asset Mortgage Capital Corporation (NYSE: WMC), an externally managed REIT that invests in, finances, and manages a portfolio of real estate-related securities, whole loans, and other financial assets, to form a REIT that is expected to have approximately $1.2 billion in assets and $436 million of adjusted book value upon completion of the merger (prior to deducting transaction expenses) (the transactions contemplated by the Agreement are referred to herein as the "TPT Merger"). On July 13, 2023, AG Mortgage Investment Trust, Inc. (NYSE: MITT) announced that it submitted an unsolicited non-binding proposal (the "MITT Proposal") to the Board of Directors of WMC to acquire WMC (the announcement and related investor deck are collectively referred to herein as the "MITT Materials").

TERRA PROPERTY TRUST REAFFIRMS INTENTION TO MERGE WITH WESTERN ASSET MORTGAGE CAPITAL CORPORATION

NEW YORK--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. (NYSE: MITT) (“MITT”) today announced that it submitted a proposal to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE: WMC) (“WMC”) to acquire WMC for a fixed exchange ratio, representing an implied price of $9.88 per share, consisting of a stock consideration of $8.90 per share and cash consideration of $0.98 per share. The offer represents an 18.2% premium to WMC's closing share price, all based on MITT a.

AG Mortgage Investment Trust Submits Offer to Acquire Western Asset Mortgage Capital Corporation for Implied Price of $9.88 Per Share

Franklin Resources

AG Mortgage Investment Trust Inc , a real estate investment trust (REIT) managed by Angelo Gordon & Co, made a stock-and-cash offer on Thursday for Western Asset Mortgage Capital Corp , a peer managed by Franklin Resources Inc , that values it at about $300 million, including debt.

Angelo Gordon-backed REIT in $300 mln bid for Western Asset Mortgage

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Western Asset Mortgage Capital Corporation (NYSE: WMC) with Terra Property Trust, Inc., pursuant to which Western Asset shareholders will end up owning approximately 24% of the combined company. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger.

WESTERN ASSET THERAPEUTICS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Western Asset Mortgage Capital Corporation - WMC

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Terra Property Trust, Inc. and Western Asset Mortgage Capital Corporation (NYSE: WMC) is fair to Western Asset shareholders. Halper Sadeh encourages Western Asset shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns wheth.

WMC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Western Asset Mortgage Capital Corporation Is Fair to Shareholders

NEW YORK , June 28, 2023 /PRNewswire/ -- Terra Property Trust, Inc. ("TPT"), an externally managed real estate investment trust ("REIT") that originates, invests in, and manages loans and assets secured by commercial real estate ("CRE"), and Western Asset Mortgage Capital Corporation (NYSE: WMC), an externally managed REIT that invests in, finances, and manages a portfolio of real estate-related securities, whole loans, and other financial assets, today jointly announced that they have entered into a definitive merger agreement (the "Agreement") under which TPT and WMC have agreed to combine to form a REIT that is expected to have approximately $1.2 billion in assets and $436 million of adjusted book value upon completion of the merger (prior to deducting transaction expenses). Under the terms of the Agreement, WMC will issue to TPT stockholders newly designated shares of WMC Class B common stock as merger consideration.

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