Invesco Mortgage Capital Inc (IVR) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Invesco Mortgage Capital Inc (NYSE:IVR) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $18.13.
A number of research firms have recently weighed in on IVR. BidaskClub lowered shares of Invesco Mortgage Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $18.25 target price on shares of Invesco Mortgage Capital in a report on Thursday, August 10th.
Invesco Mortgage Capital (IVR) traded down $0.23 during midday trading on Monday, reaching $16.71. 653,800 shares of the company’s stock traded hands, compared to its average volume of 836,888. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.86. Invesco Mortgage Capital has a twelve month low of $14.15 and a twelve month high of $18.02. The stock has a market capitalization of $1,865.11, a price-to-earnings ratio of 10.38 and a beta of 0.87.
Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. Invesco Mortgage Capital had a net margin of 66.86% and a return on equity of 9.06%. The business had revenue of $68.20 million during the quarter, compared to analyst estimates of $68.85 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Stockholders of record on Wednesday, September 27th were issued a dividend of $0.41 per share. This is a positive change from Invesco Mortgage Capital’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date of this dividend was Tuesday, September 26th. Invesco Mortgage Capital’s dividend payout ratio is currently 44.09%.
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In other news, EVP David B. Lyle bought 2,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $16.97 per share, for a total transaction of $33,940.00. Following the completion of the acquisition, the executive vice president now owns 17,268 shares in the company, valued at approximately $293,037.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC boosted its holdings in shares of Invesco Mortgage Capital by 24.7% during the third quarter. Private Advisor Group LLC now owns 50,629 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 10,026 shares during the period. Mackenzie Financial Corp raised its stake in Invesco Mortgage Capital by 68.6% in the third quarter. Mackenzie Financial Corp now owns 19,291 shares of the real estate investment trust’s stock worth $330,000 after buying an additional 7,850 shares in the last quarter. Stifel Financial Corp raised its stake in Invesco Mortgage Capital by 5.0% in the third quarter. Stifel Financial Corp now owns 76,924 shares of the real estate investment trust’s stock worth $1,320,000 after buying an additional 3,673 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Invesco Mortgage Capital in the third quarter worth about $505,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Invesco Mortgage Capital by 4.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 784,020 shares of the real estate investment trust’s stock worth $13,431,000 after buying an additional 36,774 shares in the last quarter. Institutional investors own 63.55% of the company’s stock.
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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