Invesco Mortgage Capital Inc (NYSE:IVR) announced a quarterly dividend on Friday, March 16th, Wall Street Journal reports. Stockholders of record on Tuesday, March 27th will be given a dividend of 0.42 per share by the real estate investment trust on Thursday, April 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date of this dividend is Monday, March 26th.
Invesco Mortgage Capital has decreased its dividend by an average of 7.0% per year over the last three years. Invesco Mortgage Capital has a dividend payout ratio of 105.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Invesco Mortgage Capital (IVR) opened at $16.57 on Friday. The stock has a market capitalization of $1,827.29, a PE ratio of 6.03 and a beta of 0.70. Invesco Mortgage Capital has a 52-week low of $14.84 and a 52-week high of $18.86. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.01 and a quick ratio of 0.01.
Invesco Mortgage Capital (NYSE:IVR) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The firm had revenue of $93.04 million for the quarter, compared to analysts’ expectations of $71.20 million. Invesco Mortgage Capital had a return on equity of 9.56% and a net margin of 56.83%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS.
Separately, Credit Suisse Group cut Invesco Mortgage Capital from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $17.74 to $18.00 in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.08.
In related news, CFO Richard Lee Jr. Phegley purchased 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of $15.49 per share, for a total transaction of $27,107.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis P. Lockhart purchased 61,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $16.00 per share, for a total transaction of $988,000.00. Following the transaction, the director now directly owns 33,427 shares in the company, valued at $534,832. The disclosure for this purchase can be found here. Insiders purchased a total of 65,000 shares of company stock worth $1,039,273 in the last 90 days. 0.25% of the stock is currently owned by insiders.
ILLEGAL ACTIVITY NOTICE: This piece of content was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/03/17/invesco-mortgage-capital-inc-ivr-announces-quarterly-dividend-of-0-42.html.
About Invesco Mortgage Capital
Invesco Mortgage Capital Inc is a holding company, which conducts its businesses through IAS Operating Partnership LP (the Operating Partnership) and subsidiaries. The Company’s objective is to provide risk-adjusted returns to its investors through dividends and through capital appreciation. It invests in residential mortgage-backed securities that are guaranteed by the United States Government agency, such as the Government National Mortgage Association or a federally chartered corporation, such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (collectively Agency RMBS); RMBS that are not guaranteed by the United States Government agency; Credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; commercial mortgage-backed securities; residential and commercial mortgage loans, and other real estate-related financing arrangements.
Receive News & Ratings for Invesco Mortgage Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco Mortgage Capital and related companies with MarketBeat.com's FREE daily email newsletter.