Invesco Mortgage Capital Inc (IVR) Raises Dividend to $0.42 Per Share
Invesco Mortgage Capital Inc (NYSE:IVR) announced a quarterly dividend on Friday, December 15th, Wall Street Journal reports. Investors of record on Tuesday, December 26th will be paid a dividend of 0.42 per share by the real estate investment trust on Friday, January 26th. This represents a $1.68 annualized dividend and a dividend yield of 9.01%. The ex-dividend date is Friday, December 22nd. This is a positive change from Invesco Mortgage Capital’s previous quarterly dividend of $0.41.
Invesco Mortgage Capital has decreased its dividend payment by an average of 13.2% per year over the last three years. Invesco Mortgage Capital has a 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.
Shares of Invesco Mortgage Capital (IVR) opened at $18.64 on Friday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.86. Invesco Mortgage Capital has a fifty-two week low of $14.15 and a fifty-two week high of $18.83. The company has a market capitalization of $2,048.17, a price-to-earnings ratio of 11.40 and a beta of 0.86.
Invesco Mortgage Capital (NYSE:IVR) last issued its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Invesco Mortgage Capital had a return on equity of 9.06% and a net margin of 66.86%. The company had revenue of $68.20 million during the quarter, compared to analyst estimates of $68.85 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. Invesco Mortgage Capital’s revenue was up 9.2% compared to the same quarter last year.
Separately, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $18.25 price objective on shares of Invesco Mortgage Capital in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.13.
In other news, EVP David B. Lyle acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $16.97 per share, with a total value of $33,940.00. Following the completion of the acquisition, the executive vice president now directly owns 17,268 shares of the company’s stock, valued at approximately $293,037.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.
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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.
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