PASADENA, Calif. (AP) _ Western Asset Mortgage Capital Corp. (WMC) on Monday reported a loss of $38.3 million in its fourth quarter.
The Pasadena, California-based company said it had a loss of 92 cents per share. Earnings, adjusted for non-recurring costs, came to 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The real estate investment company posted revenue of $26.7 million in the period.
For the year, the company reported that its loss widened to $25 million, or 61 cents per share. Revenue was reported as $91.3 million.
Western Asset Mortgage shares have dropped 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.97, a drop of roughly 2 percent in the last 12 months.
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
Keywords: Western Asset Mortgage Capital, Earnings Report