CMO - Capstead Mortgage Corporation

NYSE - NYSE Delayed Price. Currency in USD
5.24
-0.26 (-4.73%)
At close: 4:00PM EDT
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Momentum

Momentum

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close5.50
Open5.46
Bid5.27 x 1200
Ask5.27 x 2900
Day's Range5.16 - 5.46
52 Week Range1.97 - 9.25
Volume1,003,855
Avg. Volume1,175,277
Market Cap505.108M
Beta (5Y Monthly)1.34
PE Ratio (TTM)N/A
EPS (TTM)-2.76
Earnings DateJul 22, 2020 - Jul 27, 2020
Forward Dividend & Yield0.60 (11.11%)
Ex-Dividend DateJun 29, 2020
1y Target Est6.13
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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XX.XX
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  • Should You Buy Capstead Mortgage Corporation (CMO)?
    Insider Monkey

    Should You Buy Capstead Mortgage Corporation (CMO)?

    We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]

  • 3 Big Dividend Stocks Yielding Over 11%; JMP Says ‘Buy’
    TipRanks

    3 Big Dividend Stocks Yielding Over 11%; JMP Says ‘Buy’

    There’s a gloomy mood, as investors see COVID-19 rates increasing again after moves to reopen the economy. In an atmosphere like this it’s only natural to take defensive moves to protect the portfolio, and moves like that will naturally draw investors toward dividend stocks. These are the classic defensive stocks, and for good reason: a reliable dividend keeps the income flowing, no matter what the markets do. And in today’s environment, with share prices pushed down by the economic reaction to the coronavirus, it’s possible to find sky-high dividend yields.But not all dividend stocks are created equal. JMP analysts have chimed in – and they are recommending high-yield dividend stocks for investors looking to find protection for their portfolio.Using TipRanks database, we’ve pulled up the details on some of JMP's recommendations. These are stocks with a specific set of clear attributes, that frequently indicate a strong defensive profile: a high dividend yield, over 11%; a Moderate Buy consensus view; and a considerable upside potential — over 10%. So let’s take a closer look at three of Oppenheimer’s picks.Ellington Residential Mortgage (EARN)We’ll start with a REIT, a real estate investment trust. Due to a quirk of tax regulation, REITs are perennial dividend champs, and Ellington Residential Mortgage is no exception. The company buys, manages, and invests in real assets and mortgage-related securities, focusing primarily on residential mortgage-backed security packages with backing guaranteed by the US government.EARN reported a Q1 EPS of 27 cents, a sequential drop from the end of 2019. Company management put the falloff in income to the general chaos of the financial sector during the coronavirus pandemic, but credited an orderly portfolio reduction with preventing a forced sale of assets. On a positive note, EARN ended Q1 with $59.7 million in cash on hand.A strong liquidity position allowed the company to maintain its dividend payments. EARN has a long history of both keeping up the payments, and adjusting them when needed to keep them in line with earnings. The current dividend, at 28 cents per share quarterly, was declared earlier this month. The annualized rate, of $1.12, gives a yield of 11.4%, far higher than the ~2% found among S&P-listed companies. This will be the fifth quarter in a row that the dividend has been held steady.Covering this stock for JMP, analyst Mikhail Goberman writes, "[W]e continue to believe this best-in-class micro-cap agency MREIT should be trading much closer to its book value and at a premium to its peers, we reiterate our Market Outperform rating and adjust our price target slightly to $11.00, or 0.92x current estimated book value." Goberman's price target implies an upside of 13% from current levels. (To watch Goberman’s track record, click here)The analyst consensus on EARN is an even split, with 1 Buy rating and 1 Hold rating set recently. The Buy is more recent, and so the stock gets a Moderate Buy overall. Shares are selling for $9.72, and the average price target of $10.50 suggests a one-year upside of 8%. (See EARN stock analysis on TipRanks)Arbor Realty Trust (ABR)Next up is another small-cap player in the mortgage industry. Arbor Realty specializes in making loans for multi-family developments – apartment complexes. The company is a major funder of Fannie Mae and Freddie Mac small loans, with over $30 million in such made in June so far. Arbor boasted that it created a $2 million rental assistance program to help families impacted by the COVID-19 epidemic.Arbor reported 31 cents in Funds from Operations (FFO) in Q1, which was enough to keep up the common share dividend of 30 cents. This dividend has been increased steadily – albeit with a blip at the end of 2018 – for the past three years. The $1.20 annualized payment gives ABR's dividend a yield of 13.3%, an impressive 6.5x higher than the average dividend yield – and more than 13x higher than the current yields on Treasury bonds. With the history of dividend growth, ABR’s payment is a clear incentive for investors.On an important financial note, Arbor closed a $40 million senior note offering in April. The notes are due in 2023, and the proceeds were used to pay down secured debt and shore up liquidity.JMP’s Steven DeLaney noted the liquidity as one factor in Arbor’s solid position when he wrote, “We believe Arbor offers an attractive opportunity in this environment as any concerns over multifamily loan servicing advances have largely been addressed, and the steady performance and outlook for its Agency multifamily business should generate consistent earnings, while the company deals with credit issues in its Structured bridge loan portfolio. Additionally, following the April $40M senior note offering, liquidity stood at ~$350M…”DeLaney’s $10 price target on ABR comes with an 13% upside potential, and supports his Buy rating for the stock. (To watch DeLaney’s track record, click here)Arbor Realty shares are currently selling for $8.85. The average price target, at $10.75, implies a healthy upside of 21% from that level, even more bullish than DeLaney suggests. Both of the recent reviews on ABR are Buys, making the consensus view a Moderate Buy. (See ABR stock analysis on TipRanks)Capstead Mortgage Corporation (CMO)Last up is a residential mortgage REIT. Texas-based Capstead invests in a portfolio of adjustable rate residential mortgage securities, issued and backed by US government agencies, mainly Fannie Mae and Freddie Mac.Capstead has been able to keep earnings positive during the ‘corona quarter,’ and even saw a sequential gain in core earnings EPS, from 15 cents in Q4 to 16 cents in Q1. The Q1 result was based on $19.8 million in reported core earnings. In a positive note for investors, Capstead kept operating costs low, just 1.22% of long-term capital.The quarterly results, despite a fall-off in mortgage repayment rates during the pandemic, supported the company dividend, which was paid out in Q1 at 15 cents per share and declared earlier this month for Q2 at the same rate. This is the third quarter in a row that the dividend has held steady at 15 cents per share, and the payment has been increased steadily since the end of 2018. The annualized payment is 60 cents per common share, and gives the stock a dividend yield of 11.2%.Writing on CMO for JMP, Steven DeLaney sees a clear path forward for the company: “[We] believe CMO shares are now well-positioned to benefit from a sustained period of low interest rates that should lead to a higher dividend in time and should command an improved valuation as the better-managed agency MREITs move up to the 0.90-1.10x BV valuation range in a more favorable operating environment with less interest rate volatility.”DeLaney’s Buy rating on Capstead is supported by his $6 price target, which suggests an upside of 10% for the coming year. (To watch DeLaney’s track record, click here)Overall, Capstead is another Moderate Buy stock, with 2 recent reviews from Wall Street’s analysts both rating the stock a Buy. Shares are priced at $5.35, almost in the penny-stock range, and the average price target matches DeLaney’s at $6. (See Capstead stock analysis on TipRanks)

  • Thomson Reuters StreetEvents

    Edited Transcript of CMO earnings conference call or presentation 30-Apr-20 1:30pm GMT

    Q1 2020 Capstead Mortgage Corp Earnings Call

  • Capstead Mortgage Corporation Declares a $0.15 Per Share Second Quarter 2020 Common Dividend and a $0.46875 Per Share Second Quarter 2020 Series E Preferred Dividend
    Business Wire

    Capstead Mortgage Corporation Declares a $0.15 Per Share Second Quarter 2020 Common Dividend and a $0.46875 Per Share Second Quarter 2020 Series E Preferred Dividend

    Capstead Mortgage Corporation (NYSE: CMO) announced today that its Board of Directors has declared a second quarter 2020 common dividend of $0.15 per common share. The dividend is payable on July 20, 2020 to common stockholders of record as of June 30, 2020.

  • The Independent Director of Capstead Mortgage Corporation (NYSE:CMO), John Bernard, Just Bought 28% More Shares
    Simply Wall St.

    The Independent Director of Capstead Mortgage Corporation (NYSE:CMO), John Bernard, Just Bought 28% More Shares

    Investors who take an interest in Capstead Mortgage Corporation (NYSE:CMO) should definitely note that the Independent...

  • Did You Avoid Bearing A 38% Loss From Owning Capstead Mortgage (NYSE:CMO) Shares?
    Simply Wall St.

    Did You Avoid Bearing A 38% Loss From Owning Capstead Mortgage (NYSE:CMO) Shares?

    This month, we saw the Capstead Mortgage Corporation (NYSE:CMO) up an impressive 50%. But over the last half decade...

  • Capstead Mortgage (CMO) Q1 2020 Earnings Call Transcript
    Motley Fool

    Capstead Mortgage (CMO) Q1 2020 Earnings Call Transcript

    On the call today are Phil Reinsch, president and chief executive officer; Robert Spears, executive vice president and chief investment officer; and Lance Phillips, senior vice president and chief financial officer. To support the health and wellbeing of our employees and community and address the risks associated with the global COVID-19 pandemic, we have implemented our business continuity plan that enables our employees to work remotely.

  • Capstead Mortgage Corporation Announces First Quarter 2020 Results
    Business Wire

    Capstead Mortgage Corporation Announces First Quarter 2020 Results

    Capstead Mortgage Corporation ("Capstead" or the "Company") (NYSE: CMO) today announced financial results for the quarter ended March 31, 2020.

  • Barrons.com

    2 Mortgage REITs That Could Rise Above the Rest

    AGNC Investment and Capstead Mortgage focus on safer agency-guaranteed mortgages, Bank of America analysts note.

  • Capstead Mortgage Corporation Announces Change to a Virtual Meeting Format for Its 2020 Annual Meeting of Stockholders
    Business Wire

    Capstead Mortgage Corporation Announces Change to a Virtual Meeting Format for Its 2020 Annual Meeting of Stockholders

    Capstead Mortgage Corporation (NYSE: CMO) ("Capstead" or the "Company") announced today that the Company will hold its 2020 Annual Meeting of Stockholders (the "Annual Meeting") in a virtual only format that will be conducted live over the internet due to the emerging public health impact of the global COVID-19 pandemic and to protect and support the health and well-being of our stockholders, employees and the greater community. As previously announced, the Annual Meeting will be held on May 12, 2020 at 9:00 a.m. Central Time. Stockholders attending the virtual Annual Meeting will have the same opportunities they have had at past in-person annual meetings to participate, ask questions, and provide feedback to our management team and our board of directors. Representatives of Ernst & Young LLP, our independent registered public accounting firm, will also attend the virtual Annual Meeting and will be available to answer questions at that time.

  • Capstead Mortgage Corporation Updates First Quarter 2020 Conference Call Time
    Business Wire

    Capstead Mortgage Corporation Updates First Quarter 2020 Conference Call Time

    Capstead Mortgage Corporation (NYSE: CMO) ("Capstead" or the "Company") announced today that it has updated its first quarter 2020 conference call time. The Company will host a conference call and live audio webcast to discuss its financial results on Thursday, April 30, 2020, at 9:30 a.m. ET.

  • Capstead Mortgage Corporation Schedules First Quarter 2020 Earnings Release and Conference Call
    Business Wire

    Capstead Mortgage Corporation Schedules First Quarter 2020 Earnings Release and Conference Call

    Capstead Mortgage Corporation (NYSE: CMO) ("Capstead" or the "Company") announced today that it will release its first quarter 2020 results following the close of trading on the New York Stock Exchange on Wednesday, April 29, 2020. The Company will host a conference call and live audio webcast to discuss its financial results on Thursday, April 30, 2020, at 10:00 a.m. ET.

  • Capstead Mortgage Corporation Provides Financial Update in Light of Market Conditions
    Business Wire

    Capstead Mortgage Corporation Provides Financial Update in Light of Market Conditions

    CMO PROVIDES FINANCIAL UPDATE IN LIGHT OF MARKET CONDITIONS

  • Thomson Reuters StreetEvents

    Edited Transcript of CMO earnings conference call or presentation 30-Jan-20 2:00pm GMT

    Q4 2019 Capstead Mortgage Corp Earnings Call

  • Is Capstead Mortgage Corporation's (NYSE:CMO) CEO Paid At A Competitive Rate?
    Simply Wall St.

    Is Capstead Mortgage Corporation's (NYSE:CMO) CEO Paid At A Competitive Rate?

    Phil Reinsch has been the CEO of Capstead Mortgage Corporation (NYSE:CMO) since 2016. This report will, first, examine...

  • Hedge Funds Watching Capstead Mortgage Corporation (CMO) From Afar
    Insider Monkey

    Hedge Funds Watching Capstead Mortgage Corporation (CMO) From Afar

    Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018 as investors first worried over the possible ramifications of rising interest rates and the escalation of the trade war with China. The hedge funds and institutional investors we track […]

  • Thomson Reuters StreetEvents

    Edited Transcript of CMO earnings conference call or presentation 24-Oct-19 1:00pm GMT

    Q3 2019 Capstead Mortgage Corp Earnings Call

  • How Many Capstead Mortgage Corporation (NYSE:CMO) Shares Do Institutions Own?
    Simply Wall St.

    How Many Capstead Mortgage Corporation (NYSE:CMO) Shares Do Institutions Own?

    Every investor in Capstead Mortgage Corporation (NYSE:CMO) should be aware of the most powerful shareholder groups...

  • Did Capstead Mortgage Corporation (NYSE:CMO) Insiders Buy Up More Shares?
    Simply Wall St.

    Did Capstead Mortgage Corporation (NYSE:CMO) Insiders Buy Up More Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...

  • Thomson Reuters StreetEvents

    Edited Transcript of CMO earnings conference call or presentation 25-Jul-19 1:00pm GMT

    Q2 2019 Capstead Mortgage Corp Earnings Call

  • Capstead Mortgage (CMO) Q2 2019 Earnings Call Transcript
    Motley Fool

    Capstead Mortgage (CMO) Q2 2019 Earnings Call Transcript

    CMO earnings call for the period ending June 30, 2019.