Legal & General Group Plc Lowers Holdings in Invesco Mortgage Capital Inc (IVR)
Legal & General Group Plc lessened its stake in Invesco Mortgage Capital Inc (NYSE:IVR) by 15.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,435 shares of the real estate investment trust’s stock after selling 25,277 shares during the quarter. Legal & General Group Plc owned about 0.12% of Invesco Mortgage Capital worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of IVR. BlackRock Inc. grew its position in shares of Invesco Mortgage Capital by 32,968.8% during the 1st quarter. BlackRock Inc. now owns 10,802,925 shares of the real estate investment trust’s stock worth $166,582,000 after buying an additional 10,770,257 shares during the period. Nuveen Asset Management LLC grew its position in shares of Invesco Mortgage Capital by 72.6% during the 1st quarter. Nuveen Asset Management LLC now owns 1,828,167 shares of the real estate investment trust’s stock worth $28,190,000 after buying an additional 768,763 shares during the period. Vanguard Group Inc. grew its position in shares of Invesco Mortgage Capital by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,061,724 shares of the real estate investment trust’s stock worth $139,731,000 after buying an additional 559,928 shares during the period. Bank of Montreal Can grew its position in shares of Invesco Mortgage Capital by 7,959.7% during the 2nd quarter. Bank of Montreal Can now owns 413,542 shares of the real estate investment trust’s stock worth $6,911,000 after buying an additional 408,411 shares during the period. Finally, PVG Asset Management Corp acquired a new stake in shares of Invesco Mortgage Capital during the 1st quarter worth approximately $4,625,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.
Shares of Invesco Mortgage Capital Inc (NYSE:IVR) opened at 17.19 on Friday. Invesco Mortgage Capital Inc has a 12 month low of $14.15 and a 12 month high of $17.34. The firm has a market cap of $1.92 billion, a PE ratio of 4.10 and a beta of 0.80. The stock’s 50 day moving average is $16.92 and its 200 day moving average is $16.29.
Invesco Mortgage Capital (NYSE:IVR) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Invesco Mortgage Capital had a return on equity of 8.97% and a net margin of 71.92%. The company had revenue of $82.94 million during the quarter, compared to the consensus estimate of $84.50 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Analysts forecast that Invesco Mortgage Capital Inc will post $1.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Wednesday, September 27th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $1.64 annualized dividend and a dividend yield of 9.54%. This is an increase from Invesco Mortgage Capital’s previous quarterly dividend of $0.40. Invesco Mortgage Capital’s dividend payout ratio is currently 36.87%.
Several equities research analysts have recently commented on IVR shares. BidaskClub upgraded shares of Invesco Mortgage Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 price target on shares of Invesco Mortgage Capital in a research report on Friday, June 30th. Finally, Zacks Investment Research cut shares of Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.81.
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About Invesco Mortgage Capital
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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