Invesco Mortgage Capital Inc. (IVR) Hits New 52-Week High at $15.75
Invesco Mortgage Capital Inc. (NYSE:IVR)’s share price hit a new 52-week high on Tuesday . The company traded as high as $15.75 and last traded at $15.73, with a volume of 457,024 shares. The stock had previously closed at $15.55.
A number of brokerages have recently weighed in on IVR. Nomura reiterated an “in-line” rating and set a $17.00 target price (up previously from $16.00) on shares of Invesco Mortgage Capital in a research note on Monday, August 8th. Zacks Investment Research upgraded Invesco Mortgage Capital from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, August 9th. Wells Fargo & Co. upgraded Invesco Mortgage Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 11th. 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. Finally, Barclays PLC raised 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.91.
The stock’s 50-day moving average is $14.94 and its 200 day moving average is $13.46. The firm’s market cap is $1.76 billion.
Invesco Mortgage Capital (NYSE:IVR) last announced its earnings results on Friday, August 5th. The real estate investment trust reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. During the same quarter in the previous year, the firm earned $0.41 EPS. The business earned $79.24 million during the quarter, compared to analysts’ expectations of $72.22 million. Invesco Mortgage Capital’s quarterly revenue was down 14.7% on a year-over-year basis. Equities research analysts expect that Invesco Mortgage Capital Inc. will post $1.70 earnings per share for the current year.
In other news, CEO Richard J. King acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $15.38 per share, for a total transaction of $76,900.00. Following the completion of the purchase, the chief executive officer now owns 114,402 shares in the company, valued at $1,759,502.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Anzalone acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $15.38 per share, for a total transaction of $46,140.00. Following the purchase, the insider now owns 57,107 shares of the company’s stock, valued at approximately $878,305.66. The disclosure for this purchase can be found here.
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