IVR - Invesco Mortgage stock falls 3% postmarket after estimated earnings update

2023-03-27 16:40:51 ET

• Invesco Mortgage Capital ( NYSE: IVR ) stock fell 2.9% postmarket on Monday after the mortgage REIT provided an update on its estimated earnings, book value, portfolio and liquidity.
• For the two months ended February 28, Invesco Mortgage ( IVR ) forecast net income per basic share attributable to shareholders of $0.99-$1.01 and earnings available for distribution per share of $0.99-$1.01.
• The mREIT reported estimated book value per share of $11.96-$12.44 as of March 17.
• Invesco Mortgage's ( IVR ) investment portfolio totaled $5.5B as of March 17, including $5.3B of Agency RMBS.
• Both its debt-to-equity ratio and economic debt-to-equity ratios are projected to be 5.9x.
• Invesco Mortgage ( IVR ) said it had no direct counterparty exposure to Credit Suisse ( CS ).
• "Our investment portfolio continues to generate strong earnings available for distribution despite the sharp increase in short-term interest rates given a high percentage of our funding is hedged with a relatively low-cost legacy swap portfolio," said CEO John Anzalone.
• Invesco Mortgage ( IVR ) also cut its quarterly dividend by 38.5% to $0.40 .

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