PASADENA, Calif. (AP) _ Western Asset Mortgage Capital Corp. (WMC) on Wednesday reported fourth-quarter net income of $12.5 million, after reporting a loss in the same period a year earlier.
The Pasadena, California-based company said it had net income of 23 cents per share. Earnings, adjusted for non-recurring costs, were 30 cents per share.
The real estate investment company posted revenue of $55.8 million in the period. Its adjusted revenue was $18.9 million.
For the year, the company reported profit of $70.7 million, or $1.37 per share. Revenue was reported as $67 million.
Western Asset Mortgage shares have risen roughly 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.60, a rise of almost 6% in the last 12 months.