CAPSTEAD MTG CO/SH (NYSE:CMO) Downgraded to “Hold” at Zacks Investment Research

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CAPSTEAD MTG CO/SH (NYSE:CMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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. “

NYSE:CMO opened at $5.62 on Tuesday. The firm has a market capitalization of $542.16 million, a PE ratio of -3.21 and a beta of 1.32. The business’s fifty day moving average price is $6.11 and its 200 day moving average price is $5.37. The company has a debt-to-equity ratio of 11.59, a current ratio of 19.66 and a quick ratio of 19.66. CAPSTEAD MTG CO/SH has a 12 month low of $1.97 and a 12 month high of $8.42.

CAPSTEAD MTG CO/SH (NYSE:CMO) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. The firm had revenue of $48.16 million for the quarter. CAPSTEAD MTG CO/SH had a positive return on equity of 10.43% and a negative net margin of 53.94%. As a group, equities analysts anticipate that CAPSTEAD MTG CO/SH will post 0.68 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Swiss National Bank increased its holdings in CAPSTEAD MTG CO/SH by 1.3% in the first quarter. Swiss National Bank now owns 183,500 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 2,300 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of CAPSTEAD MTG CO/SH by 13.5% during the first quarter. Engineers Gate Manager LP now owns 22,241 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 2,641 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of CAPSTEAD MTG CO/SH by 2.4% during the first quarter. Confluence Investment Management LLC now owns 111,144 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 2,644 shares during the last quarter. Diversified Trust Co grew its holdings in shares of CAPSTEAD MTG CO/SH by 14.5% during the second quarter. Diversified Trust Co now owns 23,036 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 2,910 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of CAPSTEAD MTG CO/SH by 0.4% during the second quarter. Principal Financial Group Inc. now owns 730,841 shares of the real estate investment trust’s stock worth $4,013,000 after purchasing an additional 2,920 shares during the last quarter. 80.10% of the stock is currently owned by hedge funds and other institutional investors.

CAPSTEAD MTG CO/SH Company Profile

Capstead Mortgage Corporation operates as a real estate investment trust (REIT) in the United States. It invests in a portfolio of residential mortgage pass-through securities primarily consisting of short-duration adjustable-rate mortgage securities issued and guaranteed by government-sponsored enterprises, or by an agency of the federal government.

Further Reading: Why do company’s buyback their stock?

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