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

|About: Capstead Mortgage Corpor... (CMO)|By:, SA News Editor

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