IVR
Real EstateInvesco Mortgage Capital Inc. · REIT - Mortgage · $560M
What is Invesco Mortgage Capital Inc.?
Invesco Mortgage Capital Inc. is a mortgage REIT that invests in a range of mortgage-backed securities and related assets. Headquartered in Atlanta, Georgia, it operates under a structure that requires distributing the vast majority of taxable income to shareholders.
IVR generates income by investing in residential and commercial mortgage-backed securities — both agency-backed and non-agency — along with credit risk transfer securities and direct mortgage loans. The agency securities carry guarantees from U.S. government-sponsored enterprises, while the non-agency holdings introduce additional credit exposure. As a REIT, IVR must distribute at least ninety percent of its taxable income, making dividend income a central part of its investor proposition.
The company was incorporated in 2008 and began operations in 2009, with its headquarters in Atlanta, Georgia.
- Agency residential mortgage-backed securities (RMBS)
- Non-agency commercial mortgage-backed securities (CMBS)
- Credit risk transfer securities from GSEs
- Residential and commercial mortgage loans
- Other real estate-related financing arrangements
Is IVR a Good Stock to Buy?
UQS Score rates IVR as Good overall, reflecting a mixed but noteworthy profile across its five pillars.
The Quality pillar stands out as a relative strength for IVR, suggesting the underlying portfolio and financial management compare favorably within the mortgage REIT space. The Growth pillar also registers as Good, indicating the company's trajectory is not stagnant. Valuation is rated Attractive, meaning the market may not be fully pricing in the fundamentals at current levels.
The Moat and Risk pillars are both rated Weak — a meaningful consideration for investors. Mortgage REITs operate in an interest-rate-sensitive environment with limited structural advantages, and IVR is no exception.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does IVR pay dividends?
Yes — Invesco Mortgage Capital Inc. pays a dividend.
IVR pays a regular dividend, consistent with its REIT structure that mandates distributing at least ninety percent of taxable income. Income-focused investors often look to mortgage REITs like IVR for yield, though dividend levels can fluctuate with interest rate conditions and portfolio performance. The cadence is quarterly, as is standard for U.S.-listed REITs.
When does IVR report earnings?
Invesco Mortgage Capital reports earnings on a quarterly cadence, typical for U.S.-listed REITs.
Quarterly results for mortgage REITs like IVR are closely watched for net interest income trends and book value changes, both of which shift with the interest rate environment. Portfolio composition and hedging activity also influence reported outcomes from period to period.
For the most recent quarter's results, visit Invesco Mortgage Capital's investor relations page directly.
IVR Price History
-37.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Invesco Mortgage Capital Inc.?
Based on Invesco Mortgage Capital Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
IVR Long-term Outlook
IVR's Growth pillar rating of Good suggests the company has identifiable forward momentum relative to its peer group, even within a rate-sensitive sector. However, the Weak Risk pillar signals that this trajectory carries meaningful uncertainty — particularly as monetary policy and credit spreads shift. The Attractive Valuation rating may offer a margin of safety, but investors should weigh that against the structural vulnerabilities flagged by the Moat and Risk assessments.
Growth drivers
- Potential spread widening benefiting agency RMBS income
- Portfolio reallocation toward higher-yielding non-agency assets
- Reinvestment of capital as mortgage market conditions evolve
Key risks
- Interest rate volatility compressing net interest margins
- Limited competitive moat in a commoditized lending environment
- Book value sensitivity to credit spread movements
IVR vs Peers
IVR competes within the mortgage REIT and real estate finance space alongside several other specialized lenders.
TRTX focuses primarily on transitional commercial real estate loans, giving it a different credit profile than IVR's securities-heavy approach.
Adamas Trust operates with a distinct mandate and asset mix, offering investors an alternative exposure within the real estate finance category.
KREF leverages KKR's institutional credit platform to originate senior loans, contrasting with IVR's securities-based investment strategy.
Frequently Asked Questions
What does Invesco Mortgage Capital do?
Invesco Mortgage Capital is a mortgage REIT that invests in agency and non-agency mortgage-backed securities, credit risk transfer securities, and direct mortgage loans. It earns income from the spread between its borrowing costs and the yields on its holdings, then distributes most of that income to shareholders as dividends.
Does IVR pay dividends?
Yes, IVR pays a regular quarterly dividend. As a REIT, it is required to distribute at least ninety percent of its taxable income to shareholders. Dividend amounts can vary depending on portfolio performance and interest rate conditions, so reviewing recent announcements on the company's investor relations page is advisable.
When does IVR report earnings?
Invesco Mortgage Capital reports earnings on a quarterly cadence, in line with U.S.-listed REIT norms. For the exact schedule and most recent results, check the investor relations section of the company's official website.
Is IVR a good stock to buy?
UQS Score rates IVR as Good overall. The Quality and Valuation pillars are relative strengths, while the Moat and Risk pillars are rated Weak — reflecting the interest-rate sensitivity inherent to mortgage REITs. Whether IVR fits a portfolio depends on an investor's income goals and risk tolerance. The full pillar breakdown is available to UQS Pro members.
Is IVR overvalued?
The UQS Valuation pillar for IVR is rated Attractive, suggesting the stock may be priced below what the fundamentals imply relative to peers. That said, valuation in mortgage REITs is closely tied to book value and interest rate assumptions, so the picture can shift quickly with market conditions.
How does IVR compare to its competitors?
IVR sits alongside peers like TRTX, KREF, and ADAM in the real estate finance space. Unlike commercial loan-focused peers, IVR's portfolio leans heavily on mortgage-backed securities — both agency and non-agency. This creates a different risk and income profile. The UQS platform provides side-by-side scoring for direct comparison.
What is IVR's market cap bracket?
IVR is classified as a small-cap stock. This places it in a tier where liquidity and analyst coverage may be more limited than large-cap REITs, which is worth considering alongside the company's risk profile.
Who founded Invesco Mortgage Capital?
Invesco Mortgage Capital was incorporated in 2008 and is managed externally by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. Founding and governance details are publicly available through the company's SEC filings and investor relations materials.
Is IVR a long-term quality investment?
From a long-term quality standpoint, IVR's Strong Quality pillar is a positive signal, but the Weak Moat rating suggests limited structural advantages that could sustain outperformance over time. Mortgage REITs are inherently cyclical and rate-sensitive. Investors focused on long-term quality indicators should weigh these factors carefully alongside the income potential.
What is the main competitive advantage of Invesco Mortgage Capital?
IVR benefits from its affiliation with Invesco Ltd., a large global asset manager, which provides investment management infrastructure and market access. However, the UQS Moat pillar is rated Weak, indicating that durable competitive advantages are limited in the mortgage REIT sector broadly — a structural characteristic of the industry rather than a company-specific failing.
What sector does IVR belong to?
IVR operates in the Real Estate sector, specifically within the mortgage REIT sub-category. Mortgage REITs differ from equity REITs in that they invest in debt instruments secured by real estate rather than owning physical properties directly. This makes them more sensitive to interest rate movements and credit market conditions.
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Pro Analysis
IVR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 42.2 | 81.8 | 11.0 | 34.8 | 0.0 | 80.0 | -0.1 |
| May 16, 2026 | 42.3 | 81.8 | 11.0 | 34.8 | 0.0 | 81.1 | -4.0 |
| May 7, 2026 | 46.3 | 91.7 | 11.0 | 34.8 | 0.9 | 90.4 | -3.4 |
| Apr 26, 2026 | 49.7 | 91.7 | 11.0 | 51.8 | 0.9 | 90.4 | -0.1 |
| Apr 22, 2026 | 49.8 | 91.7 | 11.0 | 51.8 | 0.9 | 90.7 | -2.6 |
| Apr 19, 2026 | 52.4 | 91.7 | 11.0 | 64.7 | 0.9 | 90.8 | +0.1 |
| Apr 18, 2026 | 52.3 | 91.7 | 11.0 | 64.7 | 0.9 | 90.5 | -1.4 |
| Apr 5, 2026 | 53.7 | 91.7 | 11.0 | 64.7 | 0.9 | 100.0 | +6.9 |
| Apr 2, 2026 | 46.8 | 63.9 | 11.0 | 64.7 | 0.6 | 100.0 | — |
IVR — Pillar Breakdown
Quality
— 81.8/100 (25%)Invesco Mortgage Capital Inc. demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 34.8/100 (20%)Invesco Mortgage Capital Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 0.0/100 (15%)Invesco Mortgage Capital Inc. presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 80.0/100 (15%)Invesco Mortgage Capital Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 11/100 (25%)Invesco Mortgage Capital Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for IVR.
Score Composition
Financial Data
More Stock Analysis
How is the IVR UQS Score Calculated?
The UQS (Unified Quality Score) for Invesco Mortgage Capital Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Invesco Mortgage Capital Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Invesco Mortgage Capital Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.