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Capstead Mortgage (CMO)

Formed in 1985 and based in Dallas, Texas, Capstead is a self-managed real estate investment trust, or REIT, for federal income tax purposes. The Company earns income from investing in a leveraged portfolio of residential adjustable-rate mortgage pass-through securities, referred to as ARM securities, issued and guaranteed by government-sponsored enterprises, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae.

CMO stock data

Calendar

3 Aug 21
9 Aug 22
31 Dec 22
Quarter (USD) Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 207.39M 207.39M 207.39M 207.39M 207.39M 207.39M
Cash burn (monthly) 17.28M (no burn) 177.67K 408.5K (no burn) (no burn)
Cash used (since last report) 230.53M n/a 2.37M 5.45M n/a n/a
Cash remaining -23.14M n/a 205.02M 201.94M n/a n/a
Runway (months of cash) -1.3 n/a 1154.0 494.4 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
19 Oct 21 Patsy Joseph Augustine Common Stock Sale back to company Dispose D No No 0 15,970 0 0
19 Oct 21 Mahowald Christopher W Common Stock Sale back to company Dispose D No No 0 273,864 0 0
19 Oct 21 Whiting Mark S Common Stock Sale back to company Dispose D No No 0 94,405 0 0
19 Oct 21 Goolsby Michelle P Common Stock Sale back to company Dispose D No No 0 72,695 0 0
19 Oct 21 Oneil Michael G Common Stock Sale back to company Dispose D No No 0 97,709 0 0
13F holders Current Prev Q Change
Total holders 0 135 EXIT
Opened positions 0 18 EXIT
Closed positions 135 25 +440.0%
Increased positions 0 50 EXIT
Reduced positions 0 41 EXIT
13F shares Current Prev Q Change
Total value 0 484.15M EXIT
Total shares 0 72.32M EXIT
Total puts 0 0
Total calls 0 29.1K EXIT
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change
BLK Blackrock 0 -17.38M EXIT
Vanguard 0 -10.14M EXIT
TROW T. Rowe Price 0 -6M EXIT
Paradice Investment Management 0 -4.2M EXIT
IVZ Invesco 0 -4.19M EXIT
Geode Capital Management 0 -3.42M EXIT
STT State Street 0 -3.36M EXIT
BAC Bank Of America 0 -2M EXIT
Mirae Asset Global Investments 0 -1.58M EXIT
Orchard Capital Managment 0 -1.39M EXIT

Financial report summary

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Management Discussion
  • ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
  • Capstead operates as a self-managed REIT earning income from investing in a leveraged portfolio of residential mortgage pass-through securities primarily consisting of relatively short-duration ARM Agency Securities, which reset to more current interest rates within a relatively short period of time and are considered to have limited, if any, credit risk. By investing in ARM Agency Securities, the Company is positioned to benefit from future recoveries in financing spreads that typically contract during periods of rising interest rates and to experience smaller fluctuations in portfolio values compared to leveraged portfolios containing a significant amount of fixed-rate mortgage securities.  
  • Capstead reported for GAAP purposes net income of $16 million and $34 million representing $0.11 and $0.26 per diluted common share for the quarter and six months ended June 30, 2021, respectively. The Company reported core earnings of $14 million and $31 million or $0.09 and $0.22 per diluted common share for the quarter and six months ended June 30, 2021, respectively.  See “Reconciliation of GAAP and non-GAAP Financial Measures” for more information on core earnings.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior V bad
New words: absence, accelerate, affirmative, announced, announcement, BSPRT, cancelled, case, cent, community, conformity, consummate, contemplated, correct, counsel, declared, Delaware, delivery, distributed, diverted, enjoy, entitled, entry, exceed, failed, forma, fractional, impression, issuable, July, liable, lieu, listing, LLC, Maryland, merge, merger, minimum, multiplied, nature, nearest, organized, par, Parent, party, pendency, preceding, pro, product, provision, publicity, quotient, Realty, receding, receipt, reclassification, registration, renamed, reverse, Rodeo, rounded, rounding, satisfied, seeking, set, split, Stockholder, strategic, Street, subsidiary, taxation, thereof, thereon, transaction, true, vote, York
Removed: continuously, excludable, size

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