CMO News and Press, Capstead Mortgage Corporation From 12/01/20

We often focus on the mortgage REIT common shares in this series, but this time we’re going to emphasize the preferred shares. We provided readers recently with a fairly large article demonstrating the dramatic difference in the valuation of the AGNC preferred shares. Despi...

We can finally drop to a neutral outlook on ANH. Shares are up about 40% since late October. We're grateful for this opportunity to be right - again. We’re seeing far more REITs trading at reasonable valuations today. It was weird being stuck in a bullish stance on most of the ...

Bearish ratings on mortgage REITs? Sure, we’ll go bearish on MITT and ORC. Price-to-book ratios are way too high compared to peers. Nothing wrong with ORC except the share price. Investors are getting blinded by the dividend, but they could get a better deal on similar REITs. ...

Mortgage REITs are putting on a massive rally over the last week or two. That’s great as several have been severely undervalued. It wasn’t that long ago that we had almost nothing but bullish ratings. Today, we have several lower ratings. Discounts to book value (or ...

Capstead Mortgage Corporation (NYSE: CMO ) (“Capstead” or the “Company”) announced today that Management will participate in the virtual Southwest IDEAS Investor Conference on November 18, 2020. Capstead’s presentation is scheduled to be availa...

U.S. equity markets climbed to record-highs this past week on positive trial results for a COVID-19 vaccine, a potentially major breakthrough hailed as a "great day for science and humanity." Adding to its 7% post-election surge, the S&P 500 gained 2.3% this past week to...

We were pretty bullish on TWO lately, but shares rallied into the neutral range. Shares of ORC outperformed to the extent they ended up in our bearish range. Discounts to book value (or NAV) are the start of your mortgage REIT analysis, but not the end. In this series weȁ...

NRZ-A has two sister shares, NRZ-B and NRZ-C. These shares should be viewed as interchangeable. The problem is not that NRZ-A is fundamentally unattractive. The shares have a stripped yield of 8.32%, a discount to call value, and a floating yield on price of 6.67%. Investors in NR...

NYMTN is put together a huge rally over the last 10 days. Shares rallied from a solid buy rating up into the neutral range. Despite being in the neutral range, they still offer investors quite a bit of upside. They just don’t offer quite as much as NYMTM. Investors can pick...

TWO-C was in our buy range quite recently, but not anymore. The shares can be appealing to investors because they offer a respectable stripped yield, a discount to call value, and have some call protection on the calendar. Those are all attractive traits, but the recent performanc...