Janney Montgomery Scott LLC Lowers Stake in Invesco Mortgage Capital Inc (IVR)
Janney Montgomery Scott LLC cut its holdings in Invesco Mortgage Capital Inc (NYSE:IVR) by 28.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,361 shares of the real estate investment trust’s stock after selling 4,585 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Invesco Mortgage Capital were worth $195,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in Invesco Mortgage Capital by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 8,992 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 488 shares during the period. ETRADE Capital Management LLC acquired a new stake in Invesco Mortgage Capital in the third quarter worth about $172,000. Investment Centers of America Inc. acquired a new stake in Invesco Mortgage Capital in the second quarter worth about $180,000. Stevens Capital Management LP acquired a new stake in Invesco Mortgage Capital in the third quarter worth about $204,000. Finally, Atlantic Trust Group LLC acquired a new stake in Invesco Mortgage Capital in the second quarter worth about $211,000. Institutional investors own 63.20% of the company’s stock.
In other Invesco Mortgage Capital news, EVP David B. Lyle acquired 2,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $16.97 per share, for a total transaction of $33,940.00. Following the acquisition, the executive vice president now directly owns 17,268 shares of the company’s stock, valued at approximately $293,037.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.
Invesco Mortgage Capital (NYSE:IVR) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.04. Invesco Mortgage Capital had a return on equity of 9.06% and a net margin of 66.86%. The firm had revenue of $68.20 million for the quarter, compared to analysts’ expectations of $68.85 million. During the same quarter last year, the business earned $0.41 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Tuesday, December 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 9.42%. This is a boost from Invesco Mortgage Capital’s previous quarterly dividend of $0.41. Invesco Mortgage Capital’s dividend payout ratio (DPR) is 45.16%.
Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.25 price objective on shares of Invesco Mortgage Capital in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Invesco Mortgage Capital currently has a consensus rating of “Buy” and an average target price of $18.13.
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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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