Invesco Mortgage Capital Inc. Message Board
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earnings report
The Company reported net income of $74.4 million, or $0.99 per share (basic and diluted), for the quarter ended June 30, 2011 compared to $53.7 million, or $1.01 per share (basic and diluted), for the quarter ended March 31, 2011. The 39% increase in quarterly net income was driven by an increase in average earning assets as the Company invested the funds from the follow-on common stock offerings completed in March and June 2011.
The Company also reported its book value per share as of June 30, 2011 was $19.34, compared to $21.24 per share as of March 31, 2011. The decrease in book value was primarily driven by the decrease in the value of our interest rate swaps.-
I hear you; I have been humbled. I think a downgrade is looking more likely than I thought. Technicals now look really bad. Probably no default but may get downgrade because congress can't function!
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So who do you think is selling today.......longs who are in panic mode or short? Since you are the expert here i am interested in hearing your opinion
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Bought in, like divi up around 20. CC sounded ok and don't expect any
New secondary's -
Good fortune!
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Thanks for the post, I am selling due to our disfunctional Congress. Even if Congress approves a plan within a few days, a S&P downgrade will undoubtedly tank the mortgage REITs.
Good luck longs! -
I thought pretty good. Roughly as estimated by the same analysts that upgraded IVR. What I like most is that they achieved .99/sh and still have a large chunk of new cash to deploy in a market that has been devastated by the debt fear. The senate plan will probably prevail and it is an acceptable plan; more needs to be done; but it is a start. The Tea Party newbies overplayed their hand; hopefully they will learn from the experience and be able to do some good in the future. I think the Prez should invite some experts from rating agencies to address congress and explain what they need to do to get us out of this quagmire and maximise our rating.
IVR has been hammered much more than it should be and more than more risky reits. Not sure why. It is actually in better position than most peers if there is a downgrade, because of ready cash and because of its less reliance on agency paper.- 2 Replies to jrfillion
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BTW I completely agree on agency v. nonagency. If you believe that we are facing slow growth and not a new contraction I would much rather be in non agency paper at 400-600 bps spreads and lower leverage than in agency.
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I think it got hit so hard because it was already in a weak "technical" position when the debt problem arose.
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good to hear from a guy who shorts sometimes, thanks for your feedback, much appreciated.
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Great buy unless FED sells MBS paper to pay debt in the event of default......
- 1 Reply to highfiver13
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i think it's a good buy. i see some people selling low after hours, unbelievable. there is no good reason to sell today after hours given today's market and possibly tomorrow's upswing.
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Not good. EPS down,BV down.
- 4 Replies to ehpb1
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This has to be one of the most disgraceful earnings reports I have ever seen.
Your earning per share is down 2% quarter to quarter.
Your book value decline a very large 8.8% or $1.87. Far greater than then the ‘profit’ of $0.99.
But never mind about all that. We issued enough new equity to increase of equity under management by 80% while our portfolio income increased 39%.
I am not sure if it was good or bad all their new equity was not deployed until (hopefully) July 15.
I am surprised they did not crow about management fees more than tripling for six months. Good laugh at the bar after work.
Hopefully results are better than the raw numbers. But even that will not change the childish (attempted) exploitive wording of this quarterly report. Simply disgraceful. -
The was an abnormal increase in BV last Q. This quarter is getting back to normal.
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i like the report. seems as if the last share offer did not add value, so the chances of another one are pretty small especially at this lower price. i think our buy price is safe.
in other words, today's price + dividend = i am buying!
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