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Capstead Mortgage (CMO -2.1%) is downgraded to Hold from Buy at Maxim Group. Liquidation of the...

  • Friday, October 26, 2012, 10:32 AM ET
    Capstead Mortgage (CMO -2.1%) is downgraded to Hold from Buy at Maxim Group. Liquidation of the shares continues despite Wednesday's reasonable earnings report. Management made clear its distaste for share buybacks even this far (12.6%) below book value, but the market may force its hand to at least set a floor on the price.
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    The important thing is to continue to generate revenue for dividends. If the management believes its better to use the money for more mortgages, then i say do it.
    26 Oct 2012, 11:40 AM Reply Like
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