PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

PGA golfer Dustin Johnson sues Nat Hardwick for $3 million theft

Former LandCastle Title CEO was Johnson's attorney and "trusted advisor"

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
W S

Invesco Mortgage Capital 3Q earnings $1.01 a share

/ Print / Reprints /
| Share More
/ Text Size+
Invesco Mortgage Capital's (IVR) third-quarter income rose more than fourfold, buoyed by higher interest income and increased average earnings assets due to the sale of 9 million common shares in May. The real estate investment trust earned $26.2 million, or $1.01 a share, for the three months ended Sept. 30, up from $6.2 million, or 70 cents a share, a year ago. For the second quarter, Invesco earned $22 million, or 91 cents a share. Interest income for the third quarter more than tripled to $27.2 million from $8.9 million a year earlier. Invesco's mortgage-backed securities portfolio climbed to $2.5 billion at Sept. 30, up $200 million from the end of the second quarter. "We believe asset selection is the key to our success and having the ability and expertise to invest across the mortgage market is a distinct competitive advantage,” Chief Executive Richard King said. The company, which was spun off of investment giant Invesco (IVZ) in June 2009, reaped proceeds of about $186.8 million from its stock offering earlier this year. In October, Invesco Mortgage Capital raised another $286.4 million through the sale of 12 million common shares. The company plans to acquire additional MBS and other home loans with proceeds of the most-recent offering. For the nine months ended Sept. 30, Invesco Mortgage Capital earned $59 million, or $2.52 a share. The company reported total assets of nearly $2.6 billion at Sept. 30, which is up from $853.4 million at the end of 2009. Write to Jason Philyaw.

Recent Articles by Jason Philyaw

Comments powered by Disqus