Cantor Fitzgerald Cuts Price Target on Capstead Mortgage (CMO) Due to Increased Risks

Cantor Fitzgerald is reiterating its Buy rating on shares of Capstead Mortgage (NYSE: CMO), but is reducing its price target from $13.50 to $12.50 due to increased risks.

The firm notes that the increased risks include, a refinancing wave induced by a new U.S. Government program, drying up of repo lines, a refinancing wave driven by low mortgage rates, and loss of the SEC exemption from the Investment Company Act of 1940.

Due to the company's current dividend yield and the price appreciation of shares, Cantor Fitzgerald believes that now is a good time to buy.

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 $11.68 yesterday.

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