Invesco Mortgage Capital Inc. to Issue Quarterly Dividend of $0.40 (NYSE:IVR)

Invesco Mortgage Capital Inc. (NYSE:IVR) declared a quarterly dividend on Tuesday, March 26th, investing.com reports. Investors of record on Monday, April 8th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, April 26th. This represents a $1.60 annualized dividend and a yield of 16.61%. The ex-dividend date of this dividend is Friday, April 5th.

Invesco Mortgage Capital has decreased its dividend by an average of 26.6% per year over the last three years. Invesco Mortgage Capital has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings.

Invesco Mortgage Capital Stock Performance

Shares of NYSE:IVR traded up $0.09 during midday trading on Thursday, reaching $9.63. The company had a trading volume of 208,525 shares, compared to its average volume of 894,054. Invesco Mortgage Capital has a 1-year low of $6.34 and a 1-year high of $12.37. The firm has a market cap of $468.69 million, a price-to-earnings ratio of -11.93 and a beta of 1.88. The company has a fifty day simple moving average of $8.97 and a two-hundred day simple moving average of $8.76.

Institutional Investors Weigh In On Invesco Mortgage Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Equitable Holdings Inc. raised its stake in shares of Invesco Mortgage Capital by 196.4% in the 1st quarter. Equitable Holdings Inc. now owns 33,536 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 22,222 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Invesco Mortgage Capital by 116.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,309 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 2,860 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Invesco Mortgage Capital in the 3rd quarter valued at approximately $60,000. Advisors Asset Management Inc. raised its stake in shares of Invesco Mortgage Capital by 40.9% in the 1st quarter. Advisors Asset Management Inc. now owns 26,057 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 7,569 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Invesco Mortgage Capital by 196.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,242 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 3,473 shares in the last quarter. 40.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group began coverage on Invesco Mortgage Capital in a research report on Wednesday, December 6th. They set a “neutral” rating and a $8.00 price objective for the company. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.83.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that invests, finances, and manages mortgage-backed securities and other mortgage-related assets in the United States. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S.