Invesco Mortgage Capital Inc. (IVR) Downgraded by Zacks Investment Research
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 research firms have also commented on IVR. Credit Suisse Group AG reissued a buy rating and issued a $16.50 price objective on shares of Invesco Mortgage Capital in a research note on Friday, September 9th. Barclays PLC boosted their price objective on Invesco Mortgage Capital from $13.00 to $15.00 and gave the stock an equal weight rating in a research note on Tuesday, August 9th. Nomura reissued an in-line rating and issued a $17.00 price objective (up previously from $16.00) on shares of Invesco Mortgage Capital in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods set a $16.30 price objective on Invesco Mortgage Capital and gave the stock a buy rating in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $15.97.
Invesco Mortgage Capital (NYSE:IVR) opened at 14.57 on Wednesday. Invesco Mortgage Capital has a 52-week low of $9.74 and a 52-week high of $16.28. The company has a 50 day moving average price of $15.29 and a 200-day moving average price of $14.21. The firm’s market cap is $1.63 billion.
Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $79.24 million for the quarter, compared to analyst estimates of $72.22 million. Invesco Mortgage Capital had a positive return on equity of 9.86% and a negative net margin of 34.78%. The business’s revenue was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Equities research analysts anticipate that Invesco Mortgage Capital will post $1.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Tuesday, September 27th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.98%. Invesco Mortgage Capital’s payout ratio is currently -86.02%.
In related news, insider John Anzalone acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average price of $15.38 per share, for a total transaction of $46,140.00. Following the completion of the acquisition, the insider now owns 57,107 shares of the company’s stock, valued at approximately $878,305.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard J. King acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was bought at an average price of $15.38 per share, with a total value of $76,900.00. Following the acquisition, the chief executive officer now directly owns 114,402 shares of the company’s stock, valued at approximately $1,759,502.76. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in Invesco Mortgage Capital by 17.1% in the second quarter. BlackRock Fund Advisors now owns 5,968,640 shares of the real estate investment trust’s stock worth $81,711,000 after buying an additional 873,371 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in Invesco Mortgage Capital during the first quarter worth approximately $8,275,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Invesco Mortgage Capital during the second quarter worth approximately $6,046,000. Credit Suisse AG increased its stake in Invesco Mortgage Capital by 62.8% in the second quarter. Credit Suisse AG now owns 1,131,383 shares of the real estate investment trust’s stock worth $15,488,000 after buying an additional 436,469 shares in the last quarter. Finally, SECOR Capital Advisors LP increased its stake in Invesco Mortgage Capital by 492.8% in the second quarter. SECOR Capital Advisors LP now owns 513,878 shares of the real estate investment trust’s stock worth $7,035,000 after buying an additional 427,188 shares in the last quarter. Institutional investors and hedge funds own 63.41% of the company’s stock.
About Invesco Mortgage Capital
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 MarketBeat.com's FREE daily email newsletter.