Capstead Mortgage selling at premium as spreads narrow, prepayments pick up

Net income of $36.6M or $0.35 per share vs. $38.4M and $0.37 in Q1. Dividend is $0.34.

Book value per share up $0.10 to $12.69. Today's close of $12.96 is a 2% premium to book.

Financing spreads slipped eight basis points to 1.22%. CPR of 17.22% is up 206 basis points.

CEO Andrew Jacobs: Increase in prepayments knocked $0.02 per share off of earnings.

Conference call tomorrow at 9 ET

Previously: Capstead Mortgage misses by $0.01, misses on revenue

CMO flat AH

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Comments (2)
  • apple_investor
    , contributor
    Comments (373) | Send Message
    10% dividend more than covered by EPS, 10% YOY revenue growth. What's the problem? I'll add tomorrow on any weakness.
    30 Jul 2014, 06:58 PM Reply Like
  • tstreet
    , contributor
    Comments (1035) | Send Message
    31 Jul 2014, 09:34 AM Reply Like
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