WMC - Mergers and acquisitions

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. The August 31, 2023 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of Augu

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

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 second quarter of 2023. Today's dividend is payable on July 26, 2023 to common shareholders of record as of July 3, 2023, with an ex-dividend date of June 30, 2023. In addition, the Company estimates that its GAAP book value per share, as of May 31, 2023, was approximately $15.50. The May 31, 2023 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of May 31, 2023 and doe

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 first quarter of 2023. Today's dividend is payable on April 26, 2023 to common shareholders of record as of April 3, 2023, with an ex-dividend date of March 31, 2023. In addition, the Company estimates that its GAAP book value per share, as of February 28, 2023, was approximately $16.95. The February 28, 2023 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of February

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today the tax treatment of its common stock dividends declared in 2022. The below information is provided to assist the Company's stockholders with tax reporting requirements related to dividend distribution of taxable income by the Company. Stockholders should receive IRS Form 1099-DIV containing this information from their brokers, transfer agents or other institutions. These tax statements should be reviewed to ensure that they agree with the information provided below. Tax Treatment of Distributions The Federal Income Tax classification of the 2022 dividend distributions on the Company's common stock, as

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.40 per share for the fourth quarter of 2022. Today's dividend is payable on January 26, 2023 to common shareholders of record as of January 3, 2023, with an ex-dividend date of December 30, 2022. In addition, the Company estimates that its GAAP book value per share, as of November 30, 2022, was approximately $16.82. The November 30, 2022 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of N

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.40 per share for the third quarter of 2022. Today's dividend is payable on October 26, 2022 to common shareholders of record as of October 3, 2022, with an ex-dividend date of September 30, 2022. In addition, the Company estimates that its GAAP book value per share, as of August 31, 2022, was approximately $22.02. The August 31, 2022 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of Augus

Western Asset Mortgage Capital Corporation (NYSE:WMC) (the "Company") today announced that it has priced an aggregate $351.9 million of Mortgage-Backed Notes, Series 2022-2 (the "Notes") in a residential mortgage-backed securitization comprised of a portfolio of residential whole loans. The Notes, which initially will be issued by Arroyo Mortgage Trust 2022-2 in four classes, were priced with a weighted average fixed interest rate of approximately 5.9% per annum. All of the Notes are anticipated to have a final payment date in July 2057. The Notes will be issued in a private placement to qualified institutional investors and non-US persons under Regulation S of the Securities Act. It is exp

Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC" or the "Company") today announced that its Board of Directors has approved a reverse stock split of the Company's common stock at a ratio of 1-for-10. The reverse stock split was previously approved by stockholders at the Annual Meeting of Stockholders held on June 24, 2022. WMC's common stock will begin trading on a split-adjusted basis on the New York Stock Exchange at the market open on July 11, 2022. Once effective, the reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 60.6 million to approximately 6.06 million. In addition, the number of authorized shares of the Co

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.04 per share for the second quarter of 2022. Today's dividend is payable on July 25, 2022 to common shareholders of record as of July 1, 2022, with an ex-dividend date of June 30, 2022. In addition, the Company estimates that its GAAP book value per share, as of May 31, 2022, was approximately $2.58. The May 31, 2022 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of May 31, 2022 and does

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that Lisa Meyer, President, Chief Financial Officer and Treasurer of the Company, will be leaving the Company to pursue another opportunity. The Company is in the process of identifying candidates to serve as her successor, and will provide an update when an interim or permanent successor is appointed. Ms. Meyer will remain with the Company through June 10, 2022 to assist with the transition. "I want to thank Lisa for her significant contributions to our team over the last six years. She played an integral role in developing and implementing our operational and financial strategy, including overseeing mul

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.04 per share for the first quarter of 2022. Today's dividend is payable on April 26, 2022 to common shareholders of record as of April 4, 2022, with an ex-dividend date of April 1, 2022. "The Company, in conjunction with its Board of Directors, has decided to reset the quarterly dividend to better reflect the earnings power of the portfolio during the transition of our primary investment focus towards the residential real estate sector and away from commercial real estate," said Bonnie Wongtrakool, Chief Executive Officer of the Company. "As t

Western Asset Mortgage Capital Corporation (NYSE:WMC) (the "Company") today announced that it has priced an aggregate $398.9 million of Mortgage-Backed Notes, Series 2022-1 (the "Notes") in a residential mortgage-backed securitization comprised of a portfolio of residential whole loans. The Notes, which initially will be issued by Arroyo Mortgage Trust 2022-1 in five classes, were priced with a weighted average fixed interest rate of approximately 3.1% per annum. All of the Notes are anticipated to have a final payment date in December 2056. The Notes will be issued in a private placement to qualified institutional investors and non-US persons under Regulation S of the Securities Act. It is

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today the tax treatment of its common stock dividends declared in 2021. The below information is provided to assist the Company's stockholders with tax reporting requirements related to dividend distribution of taxable income by the Company. Stockholders should receive IRS Form 1099-DIV containing this information from their brokers, transfer agents or other institutions. These tax statements should be reviewed to ensure that they agree with the information provided below. Tax Treatment of Distributions The Federal Income Tax classification of the 2021 dividend distributions on the Company's common stock, as

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.06 per share for the fourth quarter of 2021. Today's dividend is payable on January 26, 2022 to common shareholders of record as of December 31, 2021, with an ex-dividend date of December 30, 2021. In addition, the Company estimates that its GAAP book value per share, as of November 30, 2021, was approximately $3.31. The November 30, 2021 estimated GAAP book value is unaudited, has not been verified or reviewed by our external auditors and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is

PS Business Parks, Inc. (NYSE:PSB) (the "Company") announced today that its Board of Directors elected M. Christian Mitchell to the Board of Directors effective October 4, 2021. Mr. Mitchell, 66, serves as a Managing Partner of THG Advisory Services, LLC, an alternative investment and advisory firm. Mr. Mitchell is a retired senior partner at Deloitte & Touche LLP where he served as the national or regional managing partner for various practices of the firm and was a founding member of the board of directors of Deloitte Consulting USA. Mr. Mitchell is a director of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), a regional bank holding company; Western Asset Mortgage Capital Corporation (NYSE

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.06 per share for the third quarter of 2021. Today's dividend is payable on October 26, 2021 to common shareholders of record as of October 4, 2021, with an ex-dividend date of October 1, 2021. In addition, the Company estimates that its GAAP book value per share, as of August 31, 2021, was approximately $3.67. The August 31, 2021 estimated GAAP book value is unaudited, has not been verified or reviewed by our external auditors and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of Aug

Western Asset Mortgage Capital Corporation (NYSE:WMC) (the "Company") announced today that Jennifer Murphy will resign from her positions as President, Chief Executive Officer ("CEO") and as a member of the Board of Directors of the Company (the "Board"), effective October 1, 2021, to pursue a new venture. To replace her, the Board of Directors of the Company has appointed Bonnie Wongtrakool as CEO, and Lisa Meyer as President of the Company, effective October 1, 2021. Ms. Wongtrakool will also be appointed to the Board. Ms. Meyer will continue to serve as Chief Financial Officer ("CFO") of the Company. Both Ms. Wongtrakool and Ms. Meyer will work closely with Ms. Murphy, who will remain wi

Conference Call and Webcast Scheduled for Wednesday, August 4, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) today announced that it will release financial results for the second quarter ended June 30, 2021 after the market closes on Tuesday, August 3, 2021. The Company will host a corresponding conference call with a live webcast on Wednesday, August 4, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time, to discuss those results and answer questions. Individuals interested in participating in the conference call may do so by dialing (866) 235-9914 from the United States, or (412) 902-4115 from outside the

  Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.06 per share for the second quarter of 2021. Today's dividend is payable on July 26, 2021 to common shareholders of record as of July 02, 2021, with an ex-dividend date of June 30, 2021. In addition, the Company estimates that its GAAP book value per share, as of May 31, 2021, was approximately $3.49. The May 31, 2021 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of May 31, 2021 and d

Conference Call and Webcast Scheduled for Tomorrow, Thursday, May 6, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time Western Asset Mortgage Capital Corporation (the "Company" or "WMC") (NYSE:WMC) today reported its results for the first quarter ended March 31, 2021. FIRST QUARTER 2021 FINANCIAL HIGHLIGHTS During the first quarter we continued strengthening our balance sheet by reducing debt and leverage, while improving liquidity and shareholders' equity. First quarter financial results and highlights included the following: GAAP book value per share was $4.27 at March 31, 2021, an increase of 1.7% from $4.20 at December 31, 2020. Economic book value(2) per share of $4.02 at M

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company”) (NYSE: WMC) today announced that it will release financial results for the first quarter ended March 31, 2021 after the market closes on Wednesday, May 5, 2021. The Company will host a corresponding conference call with a live webcast on Thursday, May 6, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time, to discuss those results and answer questions. Individuals interested in participating in the conference call may do so by dialing (866) 235-9914 from the United States, or (412) 902-4115 from outside the United States and referencing “Western Asset Mortgage Capital Corporation.” Thos

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 $0.06 per share for the first quarter of 2021. Today’s dividend is payable on April 26, 2021 to common shareholders of record as of April 2, 2021, with an ex-dividend date of March 31, 2021. In addition, the Company estimates that its GAAP book value per share, as of February 28, 2021, was approximately $4.08. The February 28, 2021 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further,

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company” or "WMC") (NYSE: WMC) today reported its results for the fourth quarter and the year ended December 31, 2020. FOURTH QUARTER 2020 FINANCIAL HIGHLIGHTS GAAP book value per share of $4.20, increased $0.13 from $4.07 in the third quarter GAAP net income of $10.8 million, or $0.18 per basic and diluted share. Core earnings of $7.2 million, or $0.12 per basic and diluted share.1 Economic return on book value was 4.7%1,2 for the quarter. Economic book value per share of $4.19 increased 1.9% from $4.11 in the third quarter.1 2.11% annualized net interest margin on our investment port

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company”) (NYSE: WMC) announced today the tax treatment of its common stock dividends declared in 2020. The below information is provided to assist the Company’s stockholders with tax reporting requirements related to dividend distribution of taxable income by the Company. Stockholders should receive IRS Form 1099-DIV containing this information from their brokers, transfer agents or other institutions. These tax statements should be reviewed to ensure that they agree with the information provided below. Tax Treatment of Distributions The Federal Income Tax classification of the 2020 dividend dist

PASADENA, Calif.--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the “Company”) (NYSE: WMC) today announced that it will release financial results for the fourth quarter and year ended December 31, 2020 after the market closes on Wednesday, March 3, 2021. The Company will host a corresponding conference call with a live webcast on Thursday, March 4, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time, to discuss those results and answer questions. Individuals interested in participating in the conference call may do so by dialing (866) 235-9914 from the United States, or (412) 902-4115 from outside the United States and referencing “Western Asset Mortgage Capital C

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 $0.06 per share for the fourth quarter of 2020. Today’s dividend is payable on January 26, 2021 to common shareholders of record as of December 28, 2020, with an ex-dividend date of December 24, 2020. In addition, the Company estimates that its GAAP book value per share, as of November 30, 2020, was approximately $4.18. The November 30, 2020 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures.