Invesco Mortgage Capital names new chairman

Invesco Mortgage Capital, an Atlanta-based real estate investment trust, has named a new chairman of its board of directors.

James S. Balloun, a former chairman and CEO of Acuity Brands and director of Invesco Mortgage since it went public in 2009, replaces the recently deceased Neil Williams as the head of the board.

Invesco Mortgage, an investor in residential and commercial mortgage-backed securities, also reported on Wednesday third quarter net income of $86.8 million, or 72 cents per share, compared to $79.8 million, or 68 cents per share in the period a year ago. Net interest income declined 8.8 percent, though the company recorded gains on investment sales of $12.8 million, compared to $3.6 million a year ago.