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Thursday, 01/31/2013 10:42:06 AM

Thursday, January 31, 2013 10:42:06 AM

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5:36 PM More on Capstead Mortgage (CMO) Q4 earnings: Net interest margin declines 17 bps to a barely visible 1.13%. The 2.2% fall in book value may not bode well for fixed-rate agency REITs. Company repurchased $35M worth of shares in Q4 after $100M authorization on Oct. 30. "We expect 2013 results will be more stable," says Capstead, noting most of the mortgages it holds have rates below prevailing fixed mortgage rates.

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