Capstead Mortgage Corporation (CMO) Hits New 52-Week Low Following Weak Earnings

Shares of Capstead Mortgage Corporation (NYSE:CMO) reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $9.16 and last traded at $9.16, with a volume of 789,909 shares changing hands. The stock had previously closed at $9.29.

The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). Capstead Mortgage Corporation had a net margin of 35.05% and a return on equity of 7.31%. The firm had revenue of $57.44 million during the quarter, compared to analyst estimates of $24.10 million. During the same period in the previous year, the firm posted $0.13 EPS.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 8.18%. The ex-dividend date of this dividend was Thursday, September 28th. Capstead Mortgage Corporation’s dividend payout ratio (DPR) is 124.59%.

Several analysts have commented on the company. BidaskClub upgraded Capstead Mortgage Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded Capstead Mortgage Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Several large investors have recently modified their holdings of CMO. Ameriprise Financial Inc. grew its holdings in shares of Capstead Mortgage Corporation by 1.8% during the 1st quarter. Ameriprise Financial Inc. now owns 546,335 shares of the real estate investment trust’s stock worth $5,760,000 after purchasing an additional 9,646 shares during the period. Arizona State Retirement System grew its holdings in shares of Capstead Mortgage Corporation by 1.0% during the 1st quarter. Arizona State Retirement System now owns 49,963 shares of the real estate investment trust’s stock worth $527,000 after purchasing an additional 500 shares during the period. OppenheimerFunds Inc. purchased a new stake in shares of Capstead Mortgage Corporation during the 1st quarter worth about $180,000. Principal Financial Group Inc. grew its holdings in shares of Capstead Mortgage Corporation by 4.7% during the 1st quarter. Principal Financial Group Inc. now owns 750,313 shares of the real estate investment trust’s stock worth $7,908,000 after purchasing an additional 33,359 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Capstead Mortgage Corporation by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 168,979 shares of the real estate investment trust’s stock worth $1,781,000 after purchasing an additional 4,762 shares during the period. Institutional investors and hedge funds own 72.56% of the company’s stock.

The stock has a 50 day moving average price of $9.62 and a 200 day moving average price of $10.18. The stock has a market capitalization of $879.35 million, a price-to-earnings ratio of 15.00 and a beta of 0.38.

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Capstead Mortgage Corporation Company Profile

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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