This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Invesco Mortgage Capital Inc. Announces Increase In Share Repurchase Program And Provides Update On Residential And Commercial Loan Investments

ATLANTA, Dec. 2, 2013 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE: IVR) (the "Company") today announced its Board of Directors ("Board") has authorized the Company to repurchase an additional 20 million shares of its common stock with no stated expiration date.  During the fourth quarter of 2013, purchases related to the share repurchase program authorized by the Board in December 2011 totaled approximately $102.9 million, representing approximately 6.84 million shares for an average price of $15.02.


The shares are expected to be repurchased from time to time through privately negotiated or open market transactions, including pursuant to trading plans in accordance with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, or by any combination of such methods.  The manner, price, number and timing of share repurchases will be subject to a variety of factors, including market conditions and applicable U.S. Securities and Exchange Commission rules.

In addition, the Company today provided an update on investments in residential and commercial loans. 

Residential Loans

The Company purchased an interest in a securitized pool of recently originated prime residential mortgage loans with an aggregate unpaid principal balance of approximately $300 million.  The pool consists of 398 fixed rate loans with an original term to maturity of 30 years.  The Company will consolidate the underlying assets and liabilities of the securitization trust for financial statement reporting purposes.

Commercial Loans

The Company has increased its investment in floating rate commercial real estate loans and mezzanine loan pass-through certificates to approximately $108 million.  During the fourth quarter, the Company has closed on two floating rate commercial real estate loan investments totaling approximately $39 million.  The loans consisted of an approximately $20 million senior loan secured by a Palm Beach hotel and an approximately $19 million mezzanine loan secured by a pledge of the equity interests in a portfolio of hotels.  

"We are pleased that we continue to create value for our shareholders by funding residential and commercial loans and by deploying capital to repurchase shares," said Richard King, President and Chief Executive Officer.

About Invesco Mortgage Capital Inc.

Invesco Mortgage Capital Inc. is a real estate investment trust that focuses on financing and managing residential and commercial mortgage-backed securities and mortgage loans. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), a leading independent global investment management firm.  Additional information is available at

SOURCE Invesco Mortgage Capital Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 0.00%
FB $101.22 1.70%
GOOG $678.11 0.00%
TSLA $150.00 1.20%
YHOO $26.82 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs