Invesco Mortgage Capital (IVR) Hits New 12-Month High Following Dividend Announcement
Invesco Mortgage Capital Inc (NYSE:IVR)’s share price reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The stock traded as high as $18.63 and last traded at $18.35, with a volume of 1304800 shares traded. The stock had previously closed at $18.35.
The newly announced dividend which will be paid on Friday, January 26th. Shareholders of record on Tuesday, December 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, December 22nd. This is an increase from Invesco Mortgage Capital’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 9.01%. Invesco Mortgage Capital’s dividend payout ratio (DPR) is currently 51.57%.
Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.25 target price on shares of Invesco Mortgage Capital in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.13.
The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.86. The company has a market cap of $2,080.00, a PE ratio of 11.40 and a beta of 0.86.
Invesco Mortgage Capital (NYSE:IVR) last posted its earnings results on Monday, November 6th. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $68.20 million during the quarter, compared to the consensus estimate of $68.85 million. Invesco Mortgage Capital had a return on equity of 9.06% and a net margin of 66.86%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share.
In other news, EVP David B. Lyle bought 2,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $16.97 per share, for a total transaction of $33,940.00. Following the completion of the transaction, the executive vice president now owns 17,268 shares of the company’s stock, valued at $293,037.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. IndexIQ Advisors LLC increased its stake in shares of Invesco Mortgage Capital by 11.7% in the second quarter. IndexIQ Advisors LLC now owns 134,778 shares of the real estate investment trust’s stock valued at $2,252,000 after buying an additional 14,128 shares during the period. Voya Investment Management LLC increased its stake in shares of Invesco Mortgage Capital by 16.1% in the second quarter. Voya Investment Management LLC now owns 51,280 shares of the real estate investment trust’s stock valued at $857,000 after buying an additional 7,101 shares during the period. Prudential Financial Inc. increased its stake in shares of Invesco Mortgage Capital by 17.1% in the second quarter. Prudential Financial Inc. now owns 2,214,641 shares of the real estate investment trust’s stock valued at $37,007,000 after buying an additional 323,130 shares during the period. Cipher Capital LP increased its stake in shares of Invesco Mortgage Capital by 334.5% in the second quarter. Cipher Capital LP now owns 227,810 shares of the real estate investment trust’s stock valued at $3,806,000 after buying an additional 175,379 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Invesco Mortgage Capital by 131.5% in the second quarter. Stifel Financial Corp now owns 73,251 shares of the real estate investment trust’s stock valued at $1,228,000 after buying an additional 41,611 shares during the period. 63.20% of the stock is owned by institutional investors.
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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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