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Public Company, Headquarters Location
Dallas, TX 75225-4404 United States
(800)358-2323, (214)874-2323,(214)874-2398 fax
http://www.capstead.com
Company Description: Capstead Mortgage Corporation was formed in 1985 and is publicly traded on the New York Stock Exchange. Headquartered in Dallas, Texas, the company operates as a self-managed real estate investment trust (REIT). Capstead earns income from investing in a leveraged portfolio of residential mortgage pass-through securities consisting almost exclusively of adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored entities, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae. Agency-guaranteed mortgage securities carry an implied AAA rating with limited, if any, credit risk. Capstead typically finances its investments with borrowings under repurchase arrangements with commercial banks and other financial institutions supported by its long-term investment capital. During 2008, the company increased its long-term investment capital by 30 percent to 860 million dollars. As of December 31, 2008, residential mortgage investments totaled 7.46 billion dollars. Since the spring of 2000, Capstead periodically augmented its core investment strategy with investments in net-leased senior living centers as well as commercial mortgage securities and subordinated loans supported by interests in commercial real estate. In light of overall credit market conditions, management has concluded that it will not pursue additional investments in commercial real estate-related assets.
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