Invesco Mortgage Capital Inc (IVR) Announces Quarterly Dividend of $0.42

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.

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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.

Dividend History for Invesco Mortgage Capital (NYSE:IVR)

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