By Marc Lichtenfeld An investor looking at Western Asset Mortgage Capital Corp. (NYSE: WMC) might see a juicy 11.6% yield and a dividend that’s been stable for four years and believe the payout is safe.
Let’s find out if it really is.
The mortgage real estate investment trust (REIT) has invested in mortgage securities for 46 years. Its financials are in decent shape.
This year, net interest income (NII) is expected to be the highest it’s been since 2016.
(NII is the measure of cash flow used for mortgage REITs. It’s the money the company makes by borrowing money short term and lending it out at higher …read more
