FBR Capital Reiterates an 'Outperform' on Capstead Mortgage (CMO); Timing Is on CMO's Side
Get Alerts CMO Hot Sheet
Price: $6.50 --0%
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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FBR Capital reiterates an 'Outperform' on Capstead Mortgage (NYSE: CMO), PT $14.
FBR analyst says, "We believe Capstead's strategy is an attractive one for investors who want a significant hedge to interest rate sensitivity, as nearly 90% of the company's asset base is short-duration resetting ARMs. In the volatile yield curve aftermath of QE2, we believe that shares are attractive at current levels, trading at 1.1x last reported book value of $12.15 and a 12.4% dividend. On a forward basis, shares currently trade at nearly a 13.5% yield based on our 2H11 quarterly dividend estimate of $0.44."
For more ratings news on Capstead Mortgage click here and for the rating history of Capstead Mortgage click here.
Shares of Capstead Mortgage closed at $13.27 yesterday.
FBR analyst says, "We believe Capstead's strategy is an attractive one for investors who want a significant hedge to interest rate sensitivity, as nearly 90% of the company's asset base is short-duration resetting ARMs. In the volatile yield curve aftermath of QE2, we believe that shares are attractive at current levels, trading at 1.1x last reported book value of $12.15 and a 12.4% dividend. On a forward basis, shares currently trade at nearly a 13.5% yield based on our 2H11 quarterly dividend estimate of $0.44."
For more ratings news on Capstead Mortgage click here and for the rating history of Capstead Mortgage click here.
Shares of Capstead Mortgage closed at $13.27 yesterday.
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