Invesco Mortgage Capital and CYS Investments to See Uptick in Net Interest Income
December 15, 2011 08:16 ET
Invesco Mortgage Capital and CYS Investments to See Uptick in Net Interest Income
The Bedford Report Provides Equity Research on Invesco Mortgage Capital & CYS Investments
NEW YORK, NY--(Marketwire - Dec 15, 2011) - For roughly three years, the central bank has kept overnight interest rates near zero as unemployment remains relatively high and housing issues persist. While high yielding REITs such as Invesco Mortgage Capital & CYS Investments have benefitted from the low interest rate environment, some industry players saw their profits drop last quarter as gains in net interest income were offset by lower investment income. The Bedford Report examines the outlook for diversified REITs and provides equity research on Invesco Mortgage Capital, Inc. (
Earlier this week, the Federal Reserve reiterated its promise to keep interest rates at "exceptionally low levels... at least through mid-2013," in a largely pro-forma statement after its last meeting of the year. "While indicators point to some improvement in overall labour market conditions, the unemployment rate remains elevated," the Federal Open Market Committee said in a statement at the end of the meeting.
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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. Last week the Board of Directors of Invesco declared a dividend of $0.65 per share for the fourth quarter of 2011. The dividend will be paid on January 27, 2012 to shareholders of record on December 22, 2011. The company also announced that its Board of Directors has authorized the Company to repurchase up to 7,000,000 shares of its common stock.
CYS Investments, Inc. is a specialty finance company that invests on a leveraged basis in residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Last week the Board of Directors of CYS declared a dividend of $0.50 per share of common stock for the fourth quarter of 2011. The dividend will be paid on December 28, 2011 to stockholders of record on December 19, 2011.
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