Bimini Capital Management Inc. is currently trading at $0.50 a share, up $0.16 a share or 47.06% in today’s trading. The company’s shares hit an intraday high of $0.62 a share and the volume is well above the average daily volume of about 291,000 shares. Bimini Capital’s shares were highlighted in the September 1st edition of the FREE Daily Newsletter from QualityStocks. At that time, Bimini Capital’s stock was trading for only $0.18 per share, giving shareholders about a threefold increase in the value of the shares.
The company is a REIT – real estate management trust – that invests primarily in, but is not limited to, residential mortgage-related securities by the following government agencies – Fannie Mae, Freddie Mac and Ginnie Mae. Bimini Capital Management today announced income from continuing operations of $2.3 million, or $0.08 per share, for the three months ended September 30, 2009. Book value per share came in at $0.21 and the company also announced a regular dividend of $0.05 a share and a special dividend of $0.65 a share, to be paid in stock or cash, for shareholders of record November 16, 2009.
Bimini Capital is just the sort of company that is largely ignored by the investment community, but can be found at QualityStocks. Investors can benefit greatly from discovering emerging companies in the micro-cap and small-cap markets through QualityStocks. Savvy investors check out both the QualityStocks Blog – www.blog.qualitystocks.net – and the QualityStocks Newsletter – www.newsletter.qualitystocks.net – each and every day.
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