Capstead Mortgage Corporation (CMO) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their Clients and Investors in a research report released on Feb 7, 2017.
On the company’s financial health, Capstead Mortgage Corporation reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jan 25, 2017. Analyst had a consensus of $0.19. The company had revenue of $20.85 million for the quarter, compared to analysts expectations of $25.58 million. The company’s revenue was down -33.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.
Capstead Mortgage Corporation opened for trading at $10.56 and hit $10.62 on the upside on Friday, eventually ending the session at $10.58, with a gain of 0.38% or 0.04 points. The heightened volatility saw the trading volume jump to 5,92,045 shares. Company has a market cap of $1,016 M.
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.