Invesco Mortgage Capital (NYSE:IVR) Releases Earnings Results, Hits Estimates

Key Points

• Reported EPS met estimates: Invesco Mortgage Capital posted quarterly EPS of $0.55, matching consensus, while revenue showed ($15.01) million versus analyst estimates of $38.28 million; ROE was 28.85% and net margin 34.30%.
• The company declared a monthly dividend of $0.12 per share (ex‑dividend/record date April 27, payable May 14), representing a 17.7% yield and a payout ratio of 112.5%.
• Shares traded at $8.13 with a market cap of $706.5M and a PE of 6.35; analysts' consensus is Hold with an average target of $8.25, and institutional investors own about 40.5% of the stock.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55, FiscalAI reports. Invesco Mortgage Capital had a return on equity of 28.85% and a net margin of 34.30%.The firm had revenue of ($15.01) million for the quarter, compared to analyst estimates of $38.28 million.

Invesco Mortgage Capital Price Performance

Invesco Mortgage Capital stock traded up $0.04 during trading hours on Thursday, reaching $8.13. The stock had a trading volume of 2,735,343 shares, compared to its average volume of 2,422,417. The company has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $8.24. Invesco Mortgage Capital has a 52 week low of $7.10 and a 52 week high of $9.50. The stock has a market cap of $706.47 million, a PE ratio of 6.35 and a beta of 1.72.

Invesco Mortgage Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, April 27th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a c) annualized dividend and a yield of 17.7%. Invesco Mortgage Capital's dividend payout ratio is presently 112.50%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Invesco Mortgage Capital from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, February 2nd. Zacks Research lowered shares of Invesco Mortgage Capital from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen cut Invesco Mortgage Capital from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.25.

Institutional Trading of Invesco Mortgage Capital

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its position in Invesco Mortgage Capital by 1,607.0% during the 3rd quarter. Millennium Management LLC now owns 1,523,395 shares of the real estate investment trust's stock valued at $11,517,000 after purchasing an additional 1,434,149 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Invesco Mortgage Capital by 66.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,017,198 shares of the real estate investment trust's stock worth $7,690,000 after buying an additional 404,497 shares during the last quarter. Invesco Ltd. increased its stake in shares of Invesco Mortgage Capital by 8.5% during the fourth quarter. Invesco Ltd. now owns 2,555,890 shares of the real estate investment trust's stock valued at $21,495,000 after buying an additional 199,259 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Invesco Mortgage Capital by 77.9% during the second quarter. Ameriprise Financial Inc. now owns 336,797 shares of the real estate investment trust's stock valued at $2,641,000 after buying an additional 147,486 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Invesco Mortgage Capital by 21.0% during the fourth quarter. Van ECK Associates Corp now owns 802,335 shares of the real estate investment trust's stock valued at $6,748,000 after acquiring an additional 139,135 shares in the last quarter. 40.54% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Mortgage Capital Company Profile

Invesco Mortgage Capital Inc NYSE: IVR is a real estate investment trust that specializes in investing in U.S. residential mortgage-backed securities. The company's portfolio is weighted toward agency-guaranteed RMBS issued or guaranteed by U.S. government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. By focusing on collateral backed by federal agencies, Invesco Mortgage Capital seeks to generate attractive returns while managing credit risk through securities that carry explicit or implicit government guarantees.

To enhance its portfolio yield, the company employs leverage through repurchase agreements, warehouse facilities and debt financing.

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