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Western Asset Mortgage Capital Corporation Message Board

  • slegermark slegermark Apr 10, 2013 11:52 PM Flag

    After observing other REITs lately, spo might be a couple weeks away

    My observation is that the price recovery is pretty quick after xdiv, look at agnc, mtge, nly just about back up to prediv levels. If Western waits two weeks, they make an extra ten million on a secondary of ten mm shares.
    Current shares are 24mm plus the secondary, that would raise book by .30 for the whole shootn match.
    Not that they will do such a reasonable thing, just say'n.
    As it is now, a secondary would be within pennies of book value after the discount.
    There have not been any "S" filings since September. That filing was on the 27 and the secondary came on the 28.

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    • robin0635 Apr 11, 2013 10:40 AM Flag

      slegermark: That same rationale was why I re-entered @ 22.48 yesterday... (And you saw how that was received on NCT - ouch...) - Whether management does the "reasonable thing" here remains to be seen...
      Regardless, thanks for the post...

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