Western Asset Mortgage posts 3Q profit

PASADENA, Calif. (AP) _ Western Asset Mortgage Capital Corp. (WMC) on Tuesday reported third-quarter earnings of $22.8 million.The Pasadena, Californi

PASADENA, Calif. (AP) _ Western Asset Mortgage Capital Corp. (WMC) on Tuesday reported third-quarter earnings of $22.8 million.

The Pasadena, California-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring gains, came to 32 cents per share.

The real estate investment company posted revenue of $38.2 million in the period. Its adjusted revenue was $18.6 million.

Western Asset Mortgage shares have dropped slightly more than 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.83, a decline of 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WMC at https://www.zacks.com/ap/WMC

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