Exhibit 99.1

CONTACT:

Lindsey Crabbe

FOR IMMEDIATE RELEASE

 

(214) 874-2339

 

CAPSTEAD MORTGAGE CORPORATION

ANNOUNCES FOURTH QUARTER 2018 RESULTS

DALLAS – January 30, 2019 – Capstead Mortgage Corporation (“Capstead” or the “Company”) (NYSE:

CMO) today announced financial results for the quarter ended December 31, 2018.  

Fourth Quarter 2018 Summary

Generated earnings of $9.0 million or $0.05 per diluted common share

Paid common dividend of $0.08 per common share

Repurchased 5.8 million shares of common stock for $43.3 million, generating book value accretion of $0.14 per share

Book value per common share declined 0.9% or $0.09 to $9.39 per common share, which together with the fourth quarter dividend generated an economic return of -0.1%

Agency-guaranteed residential adjustable-rate mortgage (ARM) portfolio and leverage ended the quarter at $11.97 billion and 9.49 times long-term investment capital, respectively

About Capstead

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.

Fourth Quarter Earnings and Related Discussion

Capstead reported net income of $9.0 million or $0.05 per diluted common share for the quarter ended December 31, 2018.  This compares to net income of $8.7 million or $0.04 per diluted common share for the quarter ended September 30, 2018.  The Company paid a fourth quarter 2018 dividend of $0.08 per common share on January 18, 2019.

Portfolio yields averaged 2.34% during the fourth quarter of 2018, an increase of 26 basis points from the 2.08% reported for the third quarter. Cash yields (yields on the portfolio before investment premium amortization) increased 14 basis points to average 3.21% during the fourth quarter, benefiting from mortgage loans underlying the portfolio resetting to higher rates based on higher prevailing six- and 12-month interest rate indices and higher coupon interest rates on recent acquisitions.  As of December 31, 2018, current-reset ARMs (52% of the Company’s ARM securities portfolio) will reset in rate on average in approximately six months, allowing the Company’s cash yields to continue benefiting from higher prevailing interest rates in future


Page 1 of 12


The following information was filed by Capstead Mortgage Corp (CMO) on Wednesday, January 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Capstead Mortgage Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Capstead Mortgage Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account