Invesco Mortgage Capital Inc (NYSE:IVR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “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 Institutional (N.A.), Inc., a subsidiary of Invesco Ltd., a leading independent global investment management company. The company’s objective is to provide attractive risk-adjusted returns to its investors over the long term, primarily through dividends and secondarily through capital appreciation. “
A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods cut Invesco Mortgage Capital from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $16.25 to $15.50 in a report on Tuesday, December 13th. Nomura cut Invesco Mortgage Capital from a “buy” rating to a “neutral” rating in a report on Friday, February 24th. Instinet cut Invesco Mortgage Capital from a “buy” rating to a “neutral” rating in a report on Friday, February 24th. Finally, TheStreet upgraded Invesco Mortgage Capital from a “d+” rating to a “c-” rating in a report on Wednesday, February 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.
Invesco Mortgage Capital (NYSE:IVR) opened at 15.48 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 7.84 and a beta of 0.76. The firm has a 50 day moving average of $15.18 and a 200 day moving average of $15.05. Invesco Mortgage Capital has a 12-month low of $11.53 and a 12-month high of $16.28.
Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings results on Tuesday, February 21st. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $80.20 million for the quarter, compared to the consensus estimate of $78.15 million. Invesco Mortgage Capital had a return on equity of 9.82% and a net margin of 13.63%. Invesco Mortgage Capital’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts forecast that Invesco Mortgage Capital will post $1.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Monday, March 27th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date is Thursday, March 23rd. Invesco Mortgage Capital’s dividend payout ratio is currently 432.44%.
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In related news, insider David B. Lyle acquired 4,600 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $69,000.00. Following the purchase, the insider now owns 13,668 shares in the company, valued at $205,020. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Marshall acquired 5,700 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were bought at an average price of $15.50 per share, for a total transaction of $88,350.00. Following the completion of the purchase, the insider now owns 21,210 shares in the company, valued at approximately $328,755. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Invesco Mortgage Capital during the fourth quarter valued at $17,946,000. UBS Group AG boosted its position in shares of Invesco Mortgage Capital by 64.3% in the third quarter. UBS Group AG now owns 1,717,742 shares of the real estate investment trust’s stock valued at $26,161,000 after buying an additional 672,192 shares during the period. Whitebox Advisors LLC boosted its position in shares of Invesco Mortgage Capital by 96.5% in the third quarter. Whitebox Advisors LLC now owns 1,341,047 shares of the real estate investment trust’s stock valued at $20,424,000 after buying an additional 658,502 shares during the period. Prudential Financial Inc. boosted its position in shares of Invesco Mortgage Capital by 43.2% in the third quarter. Prudential Financial Inc. now owns 1,898,631 shares of the real estate investment trust’s stock valued at $28,916,000 after buying an additional 572,640 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Invesco Mortgage Capital by 6.0% in the third quarter. BlackRock Fund Advisors now owns 6,328,764 shares of the real estate investment trust’s stock valued at $96,387,000 after buying an additional 360,124 shares during the period. Institutional investors and hedge funds own 62.96% of the company’s stock.
About Invesco Mortgage Capital
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