Capstead Mortgage Corp., a Dallas-based real estate investment trust, has priced a public offering of 8 million shares of common stock at $15.50 per share. The company said the net proceeds of the offering will be used to finance the purchase of additional agency adjustable-rate mortgage securities and for general corporate purposes. Bear, Stearns & Co. and Deutsche Bank Securities Inc. are the joint book-running managers of the offering. The underwriters have been granted an option to buy up to an additional 1.2 million shares to cover any overallotments. The REIT can be found online at http://www.capstead.com.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
24m ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
2h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
2h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18