BidaskClub Lowers Invesco Mortgage Capital Inc (IVR) to Buy
BidaskClub downgraded shares of Invesco Mortgage Capital Inc (NYSE:IVR) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.
Several other research firms also recently commented on IVR. Keefe, Bruyette & Woods reiterated a hold rating and issued a $16.00 price target on shares of Invesco Mortgage Capital in a research report on Thursday, April 6th. Wunderlich upped their price target on shares of Invesco Mortgage Capital from $16.50 to $18.00 and gave the company a buy rating in a research report on Tuesday, May 9th. Finally, Zacks Investment Research downgraded shares of Invesco Mortgage Capital from a hold rating to a sell rating in a research report on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $17.08.
Shares of Invesco Mortgage Capital (IVR) traded up 0.24% on Friday, hitting $16.67. 111,486 shares of the company traded hands. The company has a market capitalization of $1.86 billion, a PE ratio of 4.38 and a beta of 0.81. Invesco Mortgage Capital has a 12 month low of $14.15 and a 12 month high of $17.34. The stock’s 50-day moving average price is $16.74 and its 200-day moving average price is $15.84.
Invesco Mortgage Capital (NYSE:IVR) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Invesco Mortgage Capital had a net margin of 64.31% and a return on equity of 9.18%. The firm had revenue of $86.27 million during the quarter, compared to the consensus estimate of $80.90 million. During the same quarter in the prior year, the firm earned $0.45 EPS. Invesco Mortgage Capital’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts predict that Invesco Mortgage Capital will post $1.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Tuesday, June 27th were given a dividend of $0.40 per share. The ex-dividend date was Friday, June 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 9.62%. Invesco Mortgage Capital’s payout ratio is currently 41.78%.
In other news, insider John Anzalone acquired 2,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was bought at an average price of $15.54 per share, for a total transaction of $31,080.00. Following the transaction, the insider now owns 62,107 shares in the company, valued at $965,142.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in IVR. BlackRock Inc. increased its position in shares of Invesco Mortgage Capital by 32,968.8% in the first quarter. BlackRock Inc. now owns 10,802,925 shares of the real estate investment trust’s stock worth $166,582,000 after buying an additional 10,770,257 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Invesco Mortgage Capital by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,061,724 shares of the real estate investment trust’s stock worth $139,731,000 after buying an additional 559,928 shares during the last quarter. State Street Corp increased its position in shares of Invesco Mortgage Capital by 1.1% in the first quarter. State Street Corp now owns 2,415,442 shares of the real estate investment trust’s stock worth $37,247,000 after buying an additional 25,453 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Invesco Mortgage Capital by 0.5% in the first quarter. Prudential Financial Inc. now owns 1,891,511 shares of the real estate investment trust’s stock worth $29,167,000 after buying an additional 9,680 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Invesco Mortgage Capital by 72.6% in the first quarter. Nuveen Asset Management LLC now owns 1,828,167 shares of the real estate investment trust’s stock worth $28,190,000 after buying an additional 768,763 shares during the last quarter. Institutional investors own 64.66% of the company’s stock.
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.
Receive News & Ratings for Invesco Mortgage Capital Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco Mortgage Capital Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.