Shares of Fieldstone Investment (FICC) were among the winning financial stocks Friday, rising more than 90% on news the mortgage real estate investment trust would be acquired for $5.53 a share in cash, a 112% premium over Thursday's closing price.
Credit-Based Asset Servicing and Securitization (C-BASS), an affiliate of MGIC (MTG) and Radian Group (RDN), is buying the small-cap Columbia, Md. REIT in a $260 million deal expected to close in the second quarter. Fieldstone shares closed up $2.38, or 91.5%, at $4.98.
(CBSS) continued higher Friday, rising some 6% on news it would be
American Mortgage Acceptance (AMC) revised its adjusted funds from operations (AFFO) per-share guidance for 2006 to a range of $1.08 to $1.13. AMAC previously issued AFFO per share guidance in a range of $3 to $3.20. Shares of the multifamily REIT closed down $3.92, or 22.2%, to $13.76.Community Bancshares of Indiana (CIBN) reported fourth-quarter earnings of $1.07 million, or 31 cents a share, vs. $842,000, or 32 cents a share, a year ago. The small-cap stock closed up 47 cents, or 2.2%, at $21.97.