Price Capital Management Inc. Invests $3.53 Million in Invesco Mortgage Capital Inc (IVR)
Price Capital Management Inc. bought a new position in shares of Invesco Mortgage Capital Inc (NYSE:IVR) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 197,966 shares of the real estate investment trust’s stock, valued at approximately $3,530,000. Invesco Mortgage Capital accounts for approximately 1.2% of Price Capital Management Inc.’s holdings, making the stock its 10th biggest position.
Several other hedge funds have also made changes to their positions in IVR. FMR LLC raised its stake in shares of Invesco Mortgage Capital by 71.3% during the 2nd quarter. FMR LLC now owns 1,712,523 shares of the real estate investment trust’s stock worth $28,616,000 after buying an additional 712,600 shares during the period. Rothschild Asset Management Inc. acquired a new position in shares of Invesco Mortgage Capital during the 3rd quarter worth approximately $11,342,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Invesco Mortgage Capital by 121.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 953,702 shares of the real estate investment trust’s stock worth $15,936,000 after buying an additional 522,307 shares during the period. Chicago Equity Partners LLC raised its stake in shares of Invesco Mortgage Capital by 422.0% during the 3rd quarter. Chicago Equity Partners LLC now owns 432,145 shares of the real estate investment trust’s stock worth $7,403,000 after buying an additional 349,365 shares during the period. Finally, Koch Industries Inc. acquired a new position in shares of Invesco Mortgage Capital during the 2nd quarter worth approximately $285,000. 63.43% of the stock is owned by institutional investors and hedge funds.
Shares of Invesco Mortgage Capital Inc (NYSE IVR) opened at $15.46 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.01 and a current ratio of 0.01. Invesco Mortgage Capital Inc has a 12-month low of $14.72 and a 12-month high of $18.86. The company has a market capitalization of $1,738.99, a P/E ratio of 9.68 and a beta of 0.67.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Tuesday, December 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 10.87%. This is a boost from Invesco Mortgage Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, December 22nd. Invesco Mortgage Capital’s payout ratio is presently 45.16%.
IVR has been the subject of several research analyst reports. Credit Suisse Group downgraded Invesco Mortgage Capital from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $17.74 to $18.00 in a research note on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.25 target price on shares of Invesco Mortgage Capital in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.08.
Invesco Mortgage Capital Company Profile
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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