Invesco Mortgage Capital Inc. Stock News

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We take a look at the action in preferreds and baby bonds through the second week of November and highlight some of the key themes we are watching. Preferred stocks had a strong week with a 2% total return, supported by a Treasury rally and narrowing credit spreads. Invesco Mortgage Capital is redeeming its floating-rate preferred IVR.PR.B, which will raise equity coverage.

Invesco Mortgage Capital Inc. (NYSE:IVR ) Q3 2024 Earnings Conference Call November 6, 2024 9:00 AM ET Company Participants Greg Seals - Investor Relations John Anzalone - Chief Executive Officer Kevin Collins - President Mark Gregson - Interim Chief Financial Officer David Lyle - Chief Operating Officer Brian Norris - Chief Investment Officer Conference Call Participants Jason Weaver - JonesTr...

ATLANTA , Nov. 5, 2024 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the "Company") today announced financial results for the quarter ended September 30, 2024. Net income per common share of $0.63 compared to net loss of $0.38 in Q2 2024 Earnings available for distribution per common share(1) of $0.68 compared to $0.86 in Q2 2024 Common stock dividend of $0.40 per common share, unc...

ATLANTA , Nov. 5, 2024 /PRNewswire/ -- Invesco Mortgage Capital Inc. (the "Company") (NYSE: IVR) announced today that it intends to redeem all 4,247,989 of the outstanding shares of the Company's 7.75% Fixed-to-Floating Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share ("Series B Preferred Stock") on December 27, 2024 (the "Redemption Date"). Shares of the Series B Prefe...

ATLANTA , Oct. 28, 2024 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE: IVR) will announce its third quarter 2024 results Tuesday, November 5, 2024, after market close. A conference call and audio webcast to review third quarter 2024 results will be held on Wednesday, November 6, 2024, at 9:00 a.m.

Invesco Mortgage common stock and preferred shares carry significant risk, with IVR-C being severely overpriced and offering low yield relative to alternatives. IVR-C's stripped yield is only 7.63%, and its annualized yield to call is about 8.2%, both insufficient for the high risk involved. The floating rate on IVR-C starts in 2027, and its floating spread is only 5.289%, making it less attrac...

Invesco Mortgage had a slightly underperforming quarter, with a 2.3% variance in BV and core earnings/EAD matching closely to projections. IVR's mis-timed asset purchases and decreased hedging coverage ratio negatively impacted BV, while core earnings remained stable due to offsetting factors. IVR is priced at a discount compared to peers due to significant BV and economic losses over the past ...