Wells Fargo Downgrades Capstead Mortgage Corporation to Market Perform

Brokerage firm Wells Fargo Downgrades its rating on Capstead Mortgage Corporation(NYSE:CMO). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Wells Fargo was issued on Apr 11, 2016.

In a different note, On Feb 9, 2016, Deutsche Bank said it Maintains its rating on Capstead Mortgage Corporation. In the research note, the firm Lowers the price-target to $11.50 per share. The shares have been rated ‘Hold’ by the firm.

Capstead Mortgage Corporation (CMO) made into the market gainers list on Fridays trading session with the shares advancing 0.31% or 0.03 points. Due to strong positive momentum, the stock ended at $9.84, which is also near the day’s high of $9.88. The stock began the session at $9.82 and the volume stood at 4,06,074 shares. The 52-week high of the shares is $12.005 and the 52 week low is $7.48. The company has a current market capitalization of $944 M and it has 9,59,47,090 shares in outstanding.

Capstead Mortgage Corporation(CMO) last announced its earnings results on Jan 27, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $57.58M. Analysts had an estimated revenue of $54.60M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.24.

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 Fannie Mae or Freddie Mac (together the GSEs) or by an agency of the federal Government Ginnie Mae. As of December 31 2014 the Company’s long-term investment capital totaled $1.49 billion and consisted of $1.21 billion of common and $184 million of perpetual preferred stockholders’ equity (recorded amounts) and $100 million of unsecured borrowings. The Company offers residential mortgage securities classified as held-to-maturity.

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