Capstead Mortgage

Deutsche Bank has raised the price target on Capstead (NYSE: CMO) from $13.25 to $13.75 and maintains its Hold rating.

Wunderlich is out with its report on Capstead Mortgage (NYSE: CMO), maintaining Hold and a $12 price target. In a note to clients, Wunderlich writes, "Capstead Mortgage (CMO) reported 4Q10 EPS of $0.40, against our estimate of $0.39 (revised in December when the company declared a $0.39/share...

Capstead Mortgage (NYSE: CMO) cut its dividend for the third consecutive quarter, declaring a 3Q10 dividend of $0.26 per share, down from $0.36 the previous quarter, Wunderlich Securities reports. “GSE buyouts of seriously delinquent loans from collateral pools triggered accelerated prepayments,...

Capstead Mortgage Corporation (NYSE: CMO) declared a curtailed dividend of $0.26 for 3Q2010, down from 2Q's $0.36 dividend, and Wunderlich believes that management must bear the burden of proof that dividends and earnings momentum can be reinstated once initial agency buyouts are completed....

Seeing a dividend yield of 15.7% is unusual. Seeing a dividend yield of 15.7% that the company can actually afford to pay is almost unheard of. That's what makes Capstead Mortgage Corp. (CMO) such a curious idea.... the payout is actually reliable now that the mortgage industry is pulling itself...