Capstead REIT Earns $42.5m on ARM Portfolio
July 31st, 2009
Dallas-based Capstead Mortgage Corporation (CMO: 13.38 +0.90%) earned $42.5m in Q209 ($.058 per share) on mortgage-related securities, a slight improvement from Q109’s earnings of just over $42m.
The real estate investment trust (REIT) said earnings improved on net interest margin increases in its portfolio of residential adjustable-rate mortgages (ARM) and securities guaranteed by Fannie Mae (FNM: 0.58 +1.75%), Freddie Mac (FRE: 0.6001 +0.02%) or Ginnie Mae.
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