Invesco Mortgage Capital Inc. (IVR) Sets New 1-Year High at $14.74
Shares of Invesco Mortgage Capital Inc. (NYSE:IVR) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.74 and last traded at $14.73, with a volume of 348,266 shares. The stock had previously closed at $14.42.
Several analysts recently issued reports on the stock. Wells Fargo & Co. downgraded shares of Invesco Mortgage Capital from a “market perform” rating to an “underperform” rating in a report on Monday, April 11th. Zacks Investment Research cut shares of Invesco Mortgage Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Morgan Stanley reiterated a “hold” rating and set a $14.00 target price on shares of Invesco Mortgage Capital in a research note on Tuesday, May 10th. Credit Suisse Group AG reiterated a “buy” rating on shares of Invesco Mortgage Capital in a research note on Tuesday, May 10th. Finally, Nomura upgraded shares of Invesco Mortgage Capital from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $16.00 in a research note on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.44.
The stock’s market capitalization is $1.66 billion. The stock has a 50 day moving average price of $14.10 and a 200 day moving average price of $12.83.
Invesco Mortgage Capital (NYSE:IVR) last released its earnings results on Friday, August 5th. The real estate investment trust reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm earned $79.24 million during the quarter, compared to the consensus estimate of $72.22 million. During the same period in the prior year, the business posted $0.41 earnings per share. Invesco Mortgage Capital’s quarterly revenue was down 14.7% compared to the same quarter last year. On average, equities analysts expect that Invesco Mortgage Capital Inc. will post $1.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, June 27th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, June 22nd. This represents a $1.60 annualized dividend and a dividend yield of 10.74%.
In other news, insider John Anzalone bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was acquired at an average cost of $14.18 per share, with a total value of $56,720.00. Following the completion of the purchase, the insider now owns 54,107 shares of the company’s stock, valued at $767,237.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of institutional investors recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its position in Invesco Mortgage Capital by 1.9% in the fourth quarter. Nationwide Fund Advisors now owns 81,775 shares of the real estate investment trust’s stock worth $1,013,000 after buying an additional 1,559 shares during the period. Rhumbline Advisers boosted its position in Invesco Mortgage Capital by 2.3% in the fourth quarter. Rhumbline Advisers now owns 173,842 shares of the real estate investment trust’s stock worth $2,154,000 after buying an additional 3,865 shares during the period. Finally, California Public Employees Retirement System boosted its position in Invesco Mortgage Capital by 2.7% in the fourth quarter. California Public Employees Retirement System now owns 386,600 shares of the real estate investment trust’s stock worth $4,790,000 after buying an additional 10,300 shares during the period.
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