Capstead Mortgage Corp. (CMO) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “Capstead Mortgage Corporation, formed in 1985 and based in Dallas, Texas, is a self-managed real estate investment trust for federal income tax purposes. Capstead’s core investment strategy is managing a leveraged portfolio of residential mortgage pass-through securities consisting almost exclusively of ARM securities issued and guaranteed by government-sponsored entities, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae. Agency-guaranteed residential mortgage securities carry an implied AAA credit rating with limited, if any, credit risk. “
Separately, Keefe, Bruyette & Woods set a $9.50 price objective on shares of Capstead Mortgage Corp. and gave the stock a market perform rating in a research note on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Capstead Mortgage Corp. currently has a consensus rating of Hold and an average price target of $10.75.
Capstead Mortgage Corp. (NYSE:CMO) opened at 9.00 on Tuesday. The stock’s 50 day moving average is $9.76 and its 200 day moving average is $9.83. The stock has a market cap of $863.89 million, a PE ratio of 10.47 and a beta of 0.36. Capstead Mortgage Corp. has a 52 week low of $7.48 and a 52 week high of $10.48.
Capstead Mortgage Corp. (NYSE:CMO) last announced its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.04. Capstead Mortgage Corp. had a return on equity of 8.90% and a net margin of 44.67%. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Analysts predict that Capstead Mortgage Corp. will post $0.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 10.22%. Capstead Mortgage Corp.’s payout ratio is 104.55%.
A number of hedge funds and other institutional investors have recently modified their holdings of CMO. Pacad Investment Ltd. bought a new position in shares of Capstead Mortgage Corp. during the first quarter worth about $103,000. Amalgamated Bank raised its position in shares of Capstead Mortgage Corp. by 10.4% in the second quarter. Amalgamated Bank now owns 11,370 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,067 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Capstead Mortgage Corp. by 3.8% in the second quarter. PineBridge Investments L.P. now owns 12,169 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 447 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Capstead Mortgage Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 13,387 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 1,623 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Capstead Mortgage Corp. during the second quarter worth about $144,000. Institutional investors and hedge funds own 66.38% of the company’s stock.
Capstead Mortgage Corp. Company Profile
Capstead Mortgage Corporation is a self-managed real estate investment trust (REIT). The Company invests in a leveraged portfolio of residential mortgage pass-through securities consisting exclusively of short-duration adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored enterprises (GSEs), either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) (together, the GSEs), or by an agency of the federal Government, the Government National Mortgage Association (Ginnie Mae).
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