Capstead Mortgage
(NYSE: CMO)
12.63
+0.19
+1.53%
+0.19
+1.53%
MORE ON CMO
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Capstead Mortgage Corporation |
| Industry: | REIT - Diversified |
| Employees: | 12 |
DESCRIPTION
| Capstead Mortgage Corporation operates as a self-managed real estate investment trust for federal income tax purposes or REIT and is based in Dallas, Texas. The Company invests in a leveraged portfolio of residential mortgage pass-through securities consisting almost of adjustable-rate mortgage or ARM securities issued and guaranteed by government-sponsored enterprises, either Fannie Mae or Freddie Mac or GSEs, or by an agency of the federal government, Ginnie Mae. It finances its investments with its long-term investment capital, which consists of $835 million in common stockholders’ equity together with $179 million of perpetual preferred stockholders’ equity and $100 million of long-term unsecured borrowings supported by borrowings under repurchase arrangements with commercial banks and other financial institutions. As a residential mortgage REIT that focuses on investing in short-duration Agency Securities, it competes for the acquisition of suitable investments with other mortgage REITs, commercial banks, savings banks, insurance companies, as well as institutional investors such as private equity funds, mutual funds, pension funds and sovereign wealth funds. Operating as a REIT that mainly invests in financial assets subjects the Company to various federal regulatory requirements. |
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