Analysts Set Invesco Mortgage Capital Inc (IVR) Target Price at $18.13
Invesco Mortgage Capital Inc (NYSE:IVR) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.13.
Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.25 target price on shares of Invesco Mortgage Capital in a research note on Thursday, October 26th.
Shares of Invesco Mortgage Capital (NYSE IVR) traded up $0.15 during mid-day trading on Tuesday, reaching $17.59. 1,197,521 shares of the company’s stock traded hands, compared to its average volume of 1,354,280. The company has a market capitalization of $1,960.00, a price-to-earnings ratio of 5.53 and a beta of 0.86. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.86. Invesco Mortgage Capital has a twelve month low of $14.15 and a twelve month high of $18.86.
Invesco Mortgage Capital (NYSE:IVR) last posted its earnings results on Monday, November 6th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The firm had revenue of $68.20 million during the quarter, compared to the consensus estimate of $68.85 million. Invesco Mortgage Capital had a net margin of 66.86% and a return on equity of 9.06%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Tuesday, December 26th will be paid a $0.42 dividend. This is an increase from Invesco Mortgage Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.68 annualized dividend and a dividend yield of 9.55%. Invesco Mortgage Capital’s dividend payout ratio (DPR) is presently 52.83%.
In other Invesco Mortgage Capital news, EVP David B. Lyle bought 2,000 shares of Invesco Mortgage Capital stock in a transaction dated Thursday, November 9th. The stock was purchased at an average price of $16.97 per share, for a total transaction of $33,940.00. Following the completion of the purchase, the executive vice president now directly owns 17,268 shares of the company’s stock, valued at $293,037.96. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of IVR. Schwab Charles Investment Management Inc. increased its stake in shares of Invesco Mortgage Capital by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 747,246 shares of the real estate investment trust’s stock worth $12,487,000 after purchasing an additional 35,199 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Invesco Mortgage Capital by 451.8% during the second quarter. BNP Paribas Arbitrage SA now owns 13,801 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 11,300 shares in the last quarter. Principal Financial Group Inc. grew its stake in Invesco Mortgage Capital by 3.4% during the second quarter. Principal Financial Group Inc. now owns 13,988 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 462 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Invesco Mortgage Capital during the second quarter valued at approximately $1,383,000. Finally, Pacad Investment Ltd. grew its stake in Invesco Mortgage Capital by 1,026.1% during the second quarter. Pacad Investment Ltd. now owns 25,900 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 23,600 shares in the last quarter. Hedge funds and other institutional investors own 63.20% of the company’s stock.
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About Invesco Mortgage Capital
Invesco Mortgage Capital Inc is a holding company, which conducts its businesses through IAS Operating Partnership LP (the Operating Partnership) and subsidiaries. The Company’s objective is to provide risk-adjusted returns to its investors through dividends and through capital appreciation. It invests in residential mortgage-backed securities that are guaranteed by the United States Government agency, such as the Government National Mortgage Association or a federally chartered corporation, such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (collectively Agency RMBS); RMBS that are not guaranteed by the United States Government agency; Credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; commercial mortgage-backed securities; residential and commercial mortgage loans, and other real estate-related financing arrangements.
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