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IVR

Invesco Mortgage Capital Inc.

5/20/2013, 5:29 PM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 17, 2:26 PM Invesco Mortgage (IVR) CEO Richard King added a bit more than 10% to his stake in the company yesterday, purchasing 5K shares at $19.92 each. The stock has dipped more than 5% since earnings on May 1 and at $19.92 trades below March 31 reported book value of $20.42. Comment! [Financials]
Thursday, May 16, 12:43 PM It's a nice bounce for the mortgage REITs (MORT +1.3%) today as a string of weak economic data leads to a big drop in Treasury yields, the 10-year off 6 bps to 1.88%. Leading gains is Western Asset Mortgage (WMC +3.3%) following yesterday's 8% post-earnings drubbing. CEO Jim Gavin took advantage, adding 12.8% to his stake by buying about $42K worth of stock at $19.96 each. Other movers include: (CMO +2.1%), (NLY +1.9%), (ARR +2.6%), (IVR +1.8%). 6 Comments [Financials, On the Move]
Friday, May 10, 2:39 PM Gary Kain-led American Capital Agency (AGNC -2.8%) and American Capital Mortgage (MTGE -2%) lead the decline in an all-red mREIT sector (MORT -1%) today, with AGNC taking out its post-earnings low from last week. On the earnings call, Kain said upward pressure on rates had cooled to start Q2 and book value was headed higher, but markets may not be cooperating. The 10-year yield is up 8 bps today to a near 2-month high. Others: Annaly (NLY -1.2%), Invesco (IVR -1.2%), MFA (MFA -1.8%), Western Asset (WMC -1.3%). 12 Comments [Financials, On the Move]
Tuesday, May 7, 8:36 AM Invesco Mortgage Capital (IVR) is upgraded to Buy at Ladenburg Thalmann with price target of $23. The post-earnings dip in the stock price makes the valuation attractive and the company's entry into the RMBS securitization business could be a very profitable one. Comment! [Financials]
Friday, May 3, 7:25 AM A check of some other mortgage REITs premarket after AGNC reported a big loss in Q1: NLY -1%, IVR -0.4%, HTS -0.7%, CYS -0.7%, MFA -0.3%, CMO -2.3%, DX -1.8%, WMC -3.3%.
3 Comments [Financials, On the Move]
Thursday, May 2, 3:22 PM "Rear view mirror type fears are creating opportunities for us," says Invesco Mortgage (IVR -2.3%) CEO Richard King on the earnings call (transcript). Fighting the last war, investors are guarding against loose lending and falling home prices, opening up space for Invesco to take on those risks. "Being a hybrid really helps us in that we can allocate capital specifically where we're finding value." Comment! [Financials]
Wednesday, May 1, 4:22 PM More on Invesco Mortgage (IVR) Q1 earnings: Book value/share of $20.42, off from $20.83 on Dec. 31. Net interest spread of 164 bps, up from 162 in Q4 thanks to an 8 bp drop in cost of funds. Leverage rises to 6.4x from 6.1. Company closed its first RMBS securitization during the quarter (looking forward to the CC on that). Conference call tomorrow at 9 ET. (PR) Comment! [Financials, Earnings]
Wednesday, May 1, 4:10 PM Invesco Mortgage Capital (IVR): Q1 EPS of $0.65 beats by $0.01. (PR) Comment! [Earnings, Financials, Breaking News]
Wednesday, May 1, 12:10 AM Notable earnings after Wednesday’ s close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP Comment! [Earnings]
Tuesday, April 30, 5:35 PM Notable earnings after Wednesday’ s close: ALL, ARI, ARR, ATML, ATO, ATW, AXLL, AXTI, BKD, BMR, CACI, CAR, CBS, CJES, CNQR, CSOD, CVD, CVI, CVRR, CWT, CXO, DVR, DX, DXCM, DXPE, EDMC, ESS, EXPD, EXXI, FB, FNF, FRT, G, GLUU, GNK, GTAT, HNSN, HR, IPI, IPXL, IVR, JDSU, KIM, LNC, LOCK, LVS, MAC, MAR, MET, MUR, NAVB, NGD, NLY, NTRI, PHH, POL, PRU, PSE, PXD, QUIK, ROVI, SAM, SFLY, SGMO, SLTM, SNCR, STX, TEG, TGI, TPC, TSO, TTEK, UAN, UNM, V, VVC, WES, WLT, YELP 2 Comments [Earnings]
Thursday, April 18, 11:17 PM Mortgage REITs (MORT) catch the eye of D.C., with the Financial Stability Oversight Council reportedly set to cite the industry as a potential source of market vulnerability. The companies have seen assets quadruple to over $400B since 2009, but Annaly (NLY) CEO Wellington Denahan notes their capital bases have risen as well. A Two Harbors (TWO) presentation (page 8) shows mREITs are relatively small players in the MBS market. Maybe the Fed and the GSEs just don't like the competition. Annaly and American Capital (AGNC) are the 2 biggest mREITs, with Two Harbors a distant 3rd. 42 Comments [Financials]
Wednesday, April 17, 1:01 PM Often a spot to hide during big selloffs, mortgage REITs (MORT -2.3%) slide sharply as well, particularly the hybrids (exposed to credit risk through non-agency MBS holdings). IVR -2.3%, TWO -3.3%, DX -2.5%. The sector giants: NLY -2.2%, AGNC -1.3%. One trader reminds mREITs are small caps and the Russell 2000 (IWM -2.2%) has been particularly hard hit of late. The 10-15% yields offer a nice palliative. 2 Comments [Financials, On the Move]
Tuesday, March 19, 5:38 PM Invesco Mortgage Capital Inc (IVR) declares $0.65/share quarterly dividend, in line with previous. Forward yield 12.17%. For shareholders of record Apr. 01. Payable Apr. 26. Ex-div date Mar. 27. (PR) 1 Comment [Dividends]
Tuesday, March 19, 4:10 PM There's no dividend cut at Invesco Mortgage Capital (IVR), the hybrid mREIT announcing a Q1 dividend of $0.65/share. Shares -0.5% AH. (PR) Comment! [Financials, Breaking News]
Friday, March 8, 3:48 PM Invesco Mortgage (IVR) CEO Richard King adds 8% to his stake in the company, buying about $100K worth of stock at $20.52/each yesterday. The company earlier this week closed a $250M offering of convertible notes. Comment! [Financials]
Thursday, March 7, 3:48 PM Invesco Mortgage (IVR -0.5%) continues lower following pricing of its convertible offering - 5% coupon and exchangeable at a 15% premium to the stock's closing price yesterday. It's a sweet deal, says one trader, as it would have cost 8% to issue preferreds, and the company got a 15% premium exchange rate. Once the convertible hedgers are done selling, the stock should head back up. (PR) Comment! [Financials, On the Move, Quick Ideas]