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IVR

Invesco Mortgage CapitalNYSE:IVR Stock Report

Last Price

US$2.62

Market Cap

US$816.8m

7D

-6.4%

1Y

-26.4%

Updated

21 Jan, 2022

Data

Company Financials +
IVR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance3/6
Financial Health2/6
Dividends2/6

IVR Stock Overview

Invesco Mortgage Capital Inc. operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets.

Invesco Mortgage Capital Competitors

Annaly Capital Management

NYSE:NLY

US$11.2b

AGNC Investment

NasdaqGS:AGNC

US$7.8b

Starwood Property Trust

NYSE:STWD

US$7.5b

Blackstone Mortgage Trust

NYSE:BXMT

US$5.2b

Price History & Performance

Summary of all time highs, changes and price drops for Invesco Mortgage Capital
Historical stock prices
Current Share PriceUS$2.62
52 Week HighUS$4.60
52 Week LowUS$2.61
Beta1.23
1 Month Change-7.42%
3 Month Change-17.09%
1 Year Change-26.40%
3 Year Change-83.57%
5 Year Change-82.31%
Change since IPO-86.51%

Recent News & Updates

Aug 17

Invesco Mortgage Capital: Speculative $3 Buy

The dividend was covered which was nice to see. Book value fell 12%, and shares need to fall a bit more to be at a level you can speculate comfortably at. The net interest spread was decent at 2.12%, and we think this spread improves if rates start to expand in the coming weeks again.

Jun 09

Invesco Mortgage stock jumps amid retail trader chatter

JARAMA/iStock via Getty Images Invesco Mortgage Capital (IVR) stock rides up 17%, touching its highest level in almost a year, as retail traders chatter on social media about the mortgage REIT. With short interest at ~13%, some posts suggest the stock could be a short-squeeze candidate. Some 62M shares changed hands before midday New York time, more than 8 times its three-month average daily volume. A couple other mREITs also make significant gains — Western Asset Management (WMC) climbs 5.0%, MFA

May 26

Invesco Mortgage Capital proposes 37.5M shares in stock offering

Invesco Mortgage Capital (IVR) trades 3.1% down after hours on intending to offer 37.5M shares in a public offering; underwriters granted 30-day option to purchase up to an additional 5.625M shares.Net proceeds to be used for paying the earlier announced redemption of the issued and outstanding shares of the company's 7.75% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share, and to use any remaining net proceeds for general corporate purposes.

Shareholder Returns

IVRUS Mortgage REITsUS Market
7D-6.4%-4.5%-4.0%
1Y-26.4%0.9%6.6%

Return vs Industry: IVR underperformed the US Mortgage REITs industry which returned 3.9% over the past year.

Return vs Market: IVR underperformed the US Market which returned 7.7% over the past year.

Price Volatility

Is IVR's price volatile compared to industry and market?
IVR volatility
IVR Average Weekly Movement4.2%
Mortgage REITs Industry Average Movement3.6%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: IVR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: IVR's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2008n/aJohn Anzalonehttps://www.invescomortgagecapital.com

Invesco Mortgage Capital Inc. operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S. government agency or federally chartered corporation; RMBS and CMBS that are not issued or guaranteed by a U.S. government agency or federally chartered corporation; credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; residential and commercial mortgage loans; and other real estate-related financing arrangements. Invesco Mortgage Capital Inc. has elected to be taxed as a REIT and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.

Invesco Mortgage Capital Fundamentals Summary

How do Invesco Mortgage Capital's earnings and revenue compare to its market cap?
IVR fundamental statistics
Market CapUS$816.76m
Earnings (TTM)US$52.17m
Revenue (TTM)US$125.77m

15.7x

P/E Ratio

6.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IVR income statement (TTM)
RevenueUS$125.77m
Cost of RevenueUS$0
Gross ProfitUS$125.77m
ExpensesUS$73.60m
EarningsUS$52.17m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.17
Gross Margin100.00%
Net Profit Margin41.48%
Debt/Equity Ratio541.4%

How did IVR perform over the long term?

See historical performance and comparison

Dividends

13.7%

Current Dividend Yield

163%

Payout Ratio

Valuation

Is Invesco Mortgage Capital undervalued compared to its fair value and its price relative to the market?

15.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate IVR's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate IVR's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: IVR is poor value based on its PE Ratio (15.7x) compared to the US Mortgage REITs industry average (9.9x).

PE vs Market: IVR is good value based on its PE Ratio (15.7x) compared to the US market (16.9x).


Price to Earnings Growth Ratio

PEG Ratio: IVR is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: IVR's PB Ratio (0.8x) is in line with the US Mortgage REITs industry average.


Future Growth

How is Invesco Mortgage Capital forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

77.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IVR's forecast earnings growth (77.5% per year) is above the savings rate (2%).

Earnings vs Market: IVR's earnings (77.5% per year) are forecast to grow faster than the US market (13.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: IVR's revenue (3.7% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: IVR's revenue (3.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IVR's Return on Equity is forecast to be low in 3 years time (10.2%).


Past Performance

How has Invesco Mortgage Capital performed over the past 5 years?

-55.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IVR has high quality earnings.

Growing Profit Margin: IVR became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: IVR has become profitable over the past 5 years, growing earnings by -55.1% per year.

Accelerating Growth: IVR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: IVR has become profitable in the last year, making it difficult to compare its past year earnings growth to the Mortgage REITs industry (37.8%).


Return on Equity

High ROE: IVR's Return on Equity (6.7%) is considered low.


Financial Health

How is Invesco Mortgage Capital's financial position?


Financial Position Analysis

Short Term Liabilities: IVR's short term assets ($538.8M) do not cover its short term liabilities ($7.9B).

Long Term Liabilities: IVR's short term assets ($538.8M) exceed its long term liabilities ($6.3M).


Debt to Equity History and Analysis

Debt Level: IVR's net debt to equity ratio (528.4%) is considered high.

Reducing Debt: IVR's debt to equity ratio has reduced from 619.3% to 541.4% over the past 5 years.

Debt Coverage: IVR's debt is not well covered by operating cash flow (1.7%).

Interest Coverage: Insufficient data to determine if IVR's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is Invesco Mortgage Capital current dividend yield, its reliability and sustainability?

13.74%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IVR's dividend (13.74%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: IVR's dividend (13.74%) is in the top 25% of dividend payers in the US market (3.49%)


Stability and Growth of Payments

Stable Dividend: IVR's dividend payments have been volatile in the past 10 years.

Growing Dividend: IVR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (163%), IVR's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: IVR's dividends in 3 years are not forecast to be well covered by earnings (106.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

John Anzalone (56 yo)

4.83yrs

Tenure

Mr. John M. Anzalone, CFA serves as Chief Investment Officer at Invesco Agency Securities Inc. Mr. Anzalone has been the Chief Executive Officer of Invesco Mortgage Capital Inc. since March 1, 2017. He ser...


Leadership Team

Experienced Management: IVR's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: IVR's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: IVR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 71.9%.


Top Shareholders

Company Information

Invesco Mortgage Capital Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Invesco Mortgage Capital Inc.
  • Ticker: IVR
  • Exchange: NYSE
  • Founded: 2008
  • Industry: Mortgage REITs
  • Sector: Diversified Financials
  • Implied Market Cap: US$816.761m
  • Shares outstanding: 311.74m
  • Website: https://www.invescomortgagecapital.com

Location

  • Invesco Mortgage Capital Inc.
  • Two Peachtree Pointe
  • Suite 1800
  • Atlanta
  • Georgia
  • 30309
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 00:08
End of Day Share Price2022/01/20 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.