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Capstead Mortgage Corp. Message Board

  • thyear2525 thyear2525 Aug 23, 2007 11:54 AM Flag

    CMO-B PFD........CALLED?

    CMO-B the pfd. of Capstead is trading like it will be called at $12.50 in the near future. I notice there is major selling at $12.40. Considering the junky mortgage Pfds that are selling to yield not much over 10% I have no other explanation why there appears to be relentless selling near the $12.40 to 12.50 area.


    CMO has a shelf registration of 500 million of both common and pfd. stock. It appears like the 10% Pfd. B will be replaced by another Pfd. yielding less than 10%.

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CMO
9.40+0.20(+2.17%)Feb 12 4:02 PMEST