DALLAS--(BUSINESS WIRE)--Capstead Mortgage Corporation (NYSE: CMO) announced today that it will release its first quarter 2014 results following the close of trading on the New York Stock Exchange on Wednesday, April 30, 2014. The Company will host a conference call and live audio webcast to discuss its financial results on Thursday, May 1 at 9:00 a.m. ET.
To access the conference call, dial toll free (888) 317-6016 in the U.S., (855) 669-9657 for Canada, or (412) 317-6016 for international callers. The audio replay will be available one hour after the end of the conference call through July 1, 2014. The replay can be accessed by dialing toll free (877) 344-7529 in the U.S., (855) 669-9658 for Canada, or (412) 317-0088 for international callers and entering conference number 10044383.
A live audio webcast of the conference call can be accessed through a link in the investor relations section of the Company’s website at www.capstead.com. Please allow extra time prior to the call to download and install audio software, if needed. An audio archive of the webcast will be available for approximately 60 days on the Company’s website.
Capstead Mortgage Corporation, formed in 1985 and based in Dallas, Texas, is a self-managed real estate investment trust for federal income tax purposes. Capstead invests in a conservatively leveraged portfolio of seasoned, short-duration residential adjustable-rate mortgage (“ARM”) securities issued and guaranteed by Fannie Mae, Freddie Mac, or Ginnie Mae, referred to as Agency mortgage securities. Duration is a common measure of market price sensitivity to interest rate movements and a shorter duration generally indicates less interest rate risk.
Capstead’s investment strategy is designed to produce attractive risk-adjusted returns over the long term, while reducing, but not eliminating, sensitivity to changes in interest rates. This strategy differentiates us from our peers because the ARM loans underlying our investment portfolio reset to more current interest rates within a relatively short period of time allowing for the recovery of financing spreads diminished during periods of rising interest rates and smaller fluctuations in portfolio values, and therefore book value, caused by changes in interest rates compared to portfolios that contain a significant amount of longer-duration ARM and fixed-rate mortgage securities. Utilizing this strategy, Capstead is widely recognized as the most defensively-positioned residential mortgage REIT from an interest rate and credit risk perspective.