Invesco Mortgage Capital Inc (IVR) Declares Dividend Increase – $0.41 Per Share
Invesco Mortgage Capital Inc (NYSE:IVR) announced a quarterly dividend on Friday, September 15th, RTT News reports. Stockholders of record on Wednesday, September 27th will be paid a dividend of 0.41 per share by the real estate investment trust on Thursday, October 26th. This represents a $1.64 annualized dividend and a dividend yield of 9.85%. The ex-dividend date of this dividend is Tuesday, September 26th. This is a positive change from Invesco Mortgage Capital’s previous quarterly dividend of $0.40.
Invesco Mortgage Capital has decreased its dividend by an average of 13.2% per year over the last three years. Invesco Mortgage Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.
Shares of Invesco Mortgage Capital (IVR) opened at 16.65 on Friday. Invesco Mortgage Capital has a one year low of $14.15 and a one year high of $17.34. The stock’s 50 day moving average price is $16.89 and its 200 day moving average price is $16.24. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.97 and a beta of 0.80.
Invesco Mortgage Capital (NYSE:IVR) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $82.94 million during the quarter, compared to analysts’ expectations of $84.50 million. Invesco Mortgage Capital had a return on equity of 8.97% and a net margin of 71.92%. During the same period last year, the firm posted $0.42 EPS. Analysts expect that Invesco Mortgage Capital will post $1.61 EPS for the current fiscal year.
IVR has been the topic of a number of recent research reports. BidaskClub upgraded Invesco Mortgage Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.25 price target on shares of Invesco Mortgage Capital in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Invesco Mortgage Capital presently has a consensus rating of “Buy” and an average price target of $17.81.
Invesco Mortgage Capital Company Profile
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.
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