Capstead Mortgage Corporation (CMO) Position Reduced by Morse Asset Management Inc
Morse Asset Management Inc decreased its stake in shares of Capstead Mortgage Corporation (NYSE:CMO) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 17,000 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Morse Asset Management Inc’s holdings in Capstead Mortgage Corporation were worth $177,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CMO. BlackRock Inc. raised its position in shares of Capstead Mortgage Corporation by 52,762.5% in the first quarter. BlackRock Inc. now owns 14,213,149 shares of the real estate investment trust’s stock valued at $149,808,000 after buying an additional 14,186,262 shares in the last quarter. Norges Bank acquired a new position in shares of Capstead Mortgage Corporation during the fourth quarter valued at about $10,961,000. Bank of New York Mellon Corp raised its position in shares of Capstead Mortgage Corporation by 78.1% in the first quarter. Bank of New York Mellon Corp now owns 2,037,955 shares of the real estate investment trust’s stock valued at $21,481,000 after buying an additional 893,562 shares in the last quarter. First Trust Advisors LP raised its position in shares of Capstead Mortgage Corporation by 441.6% in the first quarter. First Trust Advisors LP now owns 976,052 shares of the real estate investment trust’s stock valued at $10,288,000 after buying an additional 795,842 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Capstead Mortgage Corporation by 6.4% in the first quarter. Vanguard Group Inc. now owns 8,791,948 shares of the real estate investment trust’s stock valued at $92,667,000 after buying an additional 531,000 shares in the last quarter. 71.24% of the stock is currently owned by institutional investors.
Capstead Mortgage Corporation (NYSE:CMO) opened at 9.76 on Thursday. The company’s 50-day moving average price is $10.26 and its 200 day moving average price is $10.53. Capstead Mortgage Corporation has a 12 month low of $8.93 and a 12 month high of $11.41. The firm has a market capitalization of $937.57 million, a price-to-earnings ratio of 16.00 and a beta of 0.36.
Capstead Mortgage Corporation (NYSE:CMO) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.06. The business had revenue of $56.34 million for the quarter, compared to analysts’ expectations of $26.13 million. Capstead Mortgage Corporation had a return on equity of 7.31% and a net margin of 35.05%. During the same period last year, the firm earned $0.19 earnings per share. Analysts predict that Capstead Mortgage Corporation will post $0.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Friday, June 30th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date was Wednesday, June 28th. Capstead Mortgage Corporation’s dividend payout ratio (DPR) is 137.70%.
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CMO has been the topic of several recent analyst reports. Zacks Investment Research lowered Capstead Mortgage Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. BidaskClub lowered Capstead Mortgage Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.00 target price on shares of Capstead Mortgage Corporation in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.00.
About Capstead Mortgage Corporation
Capstead Mortgage Corporation operates as a self-managed real estate investment trust (REIT). The Company manages a leveraged portfolio of residential mortgage pass-through securities consisting of relatively short-duration adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored enterprises, either Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac), or by an agency of the federal government, the Government National Mortgage Association (Ginnie Mae).
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