Japan PPI inflation slips to 11-mth low in July
Invesco Mortgage Capital Inc. (NYSE:IVR), currently valued at $523 million in market capitalization, has filed a prospectus supplement with the Securities and Exchange Commission (SEC) for the potential sale of up to 18 million shares of its common stock.
This filing, made today, is part of an ongoing at-the-market (ATM) equity offering program. According to InvestingPro data, the company maintains a notable dividend yield of 18.9% and has consistently paid dividends for 16 consecutive years.
The Maryland-based real estate investment trust, which specializes in financing and managing residential and commercial mortgage-backed securities and other mortgage-related assets, initially launched the offering under a February 2022 shelf registration statement. With the previous registration set to expire, the company filed a new registration statement on November 6, 2024, which was declared effective by the SEC on December 4, 2024. InvestingPro analysis indicates the company maintains a GOOD overall financial health score, with net income expected to grow this year.
The equity distribution agreement for this ATM offering was originally entered into on August 9, 2024, involving placement agents BTIG, LLC, Citizens JMP Securities, LLC, and JonesTrading Institutional Services LLC. These agents are authorized to sell shares either directly or as principals for their own accounts.
Shares of Invesco Mortgage Capital are traded on the New York Stock Exchange under the ticker IVR, along with its Series B and Series C preferred stocks, under the symbols IVR PrB and IVR PrC, respectively. Trading at a P/E ratio of 7.01, InvestingPro analysis suggests the stock is currently slightly undervalued.
The company's decision to continue with the ATM offering allows for the sale of common stock over time, providing flexibility in capital raising efforts. For deeper insights into IVR's valuation and more than 30 additional financial metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Invesco Mortgage Capital has disclosed several updates in its financial status. The company announced a 1.1% increase in its book value per common share, reaching $9.37, in its third-quarter 2024 financial results. Despite this, the estimated book value saw a decrease of approximately 5.8% due to rising treasury yields and interest rate volatility. Invesco Mortgage Capital's investment portfolio was valued at $5.9 billion, primarily in Agency Mortgages and Agency CMBS. However, earnings available for distribution per common share decreased to $0.68 from $0.86 in the previous quarter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.