Prudential Financial Inc. Has $10.28 Million Stake in MTGE Investment Corp. (MTGE)
Prudential Financial Inc. lifted its stake in MTGE Investment Corp. (NASDAQ:MTGE) by 26.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,737 shares of the real estate investment trust’s stock after buying an additional 111,495 shares during the period. Prudential Financial Inc. owned approximately 1.16% of MTGE Investment Corp. worth $10,277,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTGE. Hilton Capital Management LLC bought a new stake in shares of MTGE Investment Corp. in the second quarter worth about $202,000. Bank of America Corp DE grew its stake in shares of MTGE Investment Corp. by 52.5% in the first quarter. Bank of America Corp DE now owns 53,787 shares of the real estate investment trust’s stock worth $900,000 after purchasing an additional 18,524 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of MTGE Investment Corp. by 8.7% in the second quarter. Sterling Capital Management LLC now owns 61,251 shares of the real estate investment trust’s stock worth $1,152,000 after purchasing an additional 4,927 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of MTGE Investment Corp. by 4.1% in the third quarter. Nationwide Fund Advisors now owns 67,979 shares of the real estate investment trust’s stock worth $1,319,000 after purchasing an additional 2,684 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of MTGE Investment Corp. by 104.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 116,358 shares of the real estate investment trust’s stock worth $2,257,000 after purchasing an additional 59,415 shares during the last quarter. Hedge funds and other institutional investors own 75.68% of the company’s stock.
Shares of MTGE Investment Corp. (NASDAQ:MTGE) opened at $18.60 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 4.05. The stock has a market capitalization of $844.97, a PE ratio of 9.13 and a beta of 0.45. MTGE Investment Corp. has a 12 month low of $15.40 and a 12 month high of $20.00.
MTGE Investment Corp. (NASDAQ:MTGE) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). The business had revenue of $21.54 million during the quarter, compared to the consensus estimate of $31.36 million. MTGE Investment Corp. had a return on equity of 10.52% and a net margin of 89.01%. The firm’s revenue for the quarter was down 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.80 annualized dividend and a yield of 9.68%. MTGE Investment Corp.’s payout ratio is 100.00%.
Several analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 target price on shares of MTGE Investment Corp. in a research note on Friday, August 4th. BidaskClub cut MTGE Investment Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Maxim Group raised their target price on MTGE Investment Corp. from $20.50 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.50.
About MTGE Investment Corp.
MTGE Investment Corp., formerly American Capital Mortgage Investment Corp., is a real estate investment trust. The Company invests in, finances and manages a leveraged portfolio of real estate-related investments, which include agency residential mortgage-backed securities (RMBS), non-agency securities, other mortgage-related investments and other real estate investments.
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