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Capstead Mortgage
built 635 days ago
Capstead Mortgage is holding steady in a turbulent real estate market. To stay the course, this real estate investment trust's (REIT) strategy is to make real estate-related investments that produce returns over the long haul, with minimal sensitivity to interest rate fluctuations. The company invests in single-family residential adjustable-rate mortgage securities (ARMs) issued by government agencies Fannie Mae, Freddie Mac, and Ginnie Mae; it has limited investments in credit-sensitive commercial mortgage assets. Capstead Mortgage was established in 1985.
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Capstead Mortgage is a real estate investment trust, primarily engaged in investing in real estate related assets. It ... invests in credit-sensitive commercial real estate-related assets. The company operates primarily in the US. It is headquartered in Dallas, Texas and employs about 10 people.
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Capstead Mortgage Corp. announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a price to the public of $15.50 per share. Capstead has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock to cover over-allotments, if any. Capstead intends to use the net proceeds from this offering to finance purchases of additional adjustable-rate mortgage, or ARM, Fannie Mae, Freddie Mac or Ginnie Mae-guaranteed residential mortgage-backed securities, on a leveraged basis. Capstead expects to close the transaction on February 1, 2008. Bear, Stearns & Co. Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering.
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(RTTNews) - Monday, Capstead Mortgage Corp. (CMO), a real estate investment trust, said that it plans to make a public offering of 6.5 million shares of its common stock. The company has granted the underwriters a 30-day option to purchase up to an additional 975 thousand shares of common stock to cover over-allotments.
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Capstead Mortgage Corp. announced that it plans to make a public offering of 6,500,000 shares of its common stock. Capstead has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock to cover over-allotments. All of the shares are being offered by Capstead. Capstead expects to use the net proceeds from this offering to finance purchases of additional adjustable-rate mortgage, or ARM, Fannie Mae, Freddie Mac or Ginnie Mae-guaranteed residential mortgage-backed securities, on a leveraged basis, and for general corporate purposes.
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- Analyst Steven C DeLaney of JMP Securities reiterates his "strong buy" rating on Capstead Mortgage Corp (CMO), while revising his estimates for the company. The target price is set to $15.
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