Invesco Mortgage Capital (NYSE:IVR) Issues Earnings Results, Meets Estimates

Invesco Mortgage Capital (NYSE:IVR) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55, FiscalAI reports. Invesco Mortgage Capital had a net margin of 20.50% and a return on equity of 29.57%. The firm had revenue of ($15.01) million for the quarter, compared to the consensus estimate of $39.80 million.

Invesco Mortgage Capital Stock Performance

Shares of Invesco Mortgage Capital stock traded up $0.20 on Friday, reaching $8.33. The stock had a trading volume of 3,296,331 shares, compared to its average volume of 1,990,847. The business’s 50-day moving average price is $8.20 and its two-hundred day moving average price is $8.24. Invesco Mortgage Capital has a fifty-two week low of $7.10 and a fifty-two week high of $9.50. The stock has a market cap of $723.86 million, a P/E ratio of 6.50 and a beta of 1.64.

Invesco Mortgage Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, April 27th will be paid a $0.12 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. The ex-dividend date is Monday, April 27th. Invesco Mortgage Capital’s payout ratio is presently 112.50%.

Analysts Set New Price Targets

A number of research firms have issued reports on IVR. Zacks Research cut shares of Invesco Mortgage Capital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 27th. Weiss Ratings upgraded shares of Invesco Mortgage Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen cut shares of Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Invesco Mortgage Capital currently has an average rating of “Hold” and an average target price of $8.25.

Institutional Investors Weigh In On Invesco Mortgage Capital

Several hedge funds have recently modified their holdings of IVR. Vanguard Group Inc. raised its stake in Invesco Mortgage Capital by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,727,534 shares of the real estate investment trust’s stock valued at $28,180,000 after purchasing an additional 50,548 shares during the last quarter. Invesco Ltd. raised its stake in Invesco Mortgage Capital by 8.5% during the 4th quarter. Invesco Ltd. now owns 2,555,890 shares of the real estate investment trust’s stock valued at $21,495,000 after purchasing an additional 199,259 shares during the last quarter. Geode Capital Management LLC raised its stake in Invesco Mortgage Capital by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 1,708,181 shares of the real estate investment trust’s stock valued at $14,369,000 after purchasing an additional 101,303 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Invesco Mortgage Capital by 7.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,544,194 shares of the real estate investment trust’s stock valued at $11,674,000 after purchasing an additional 113,608 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Invesco Mortgage Capital by 1,607.0% during the 3rd quarter. Millennium Management LLC now owns 1,523,395 shares of the real estate investment trust’s stock valued at $11,517,000 after purchasing an additional 1,434,149 shares during the last quarter. 40.54% of the stock is owned by institutional investors.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc (NYSE: IVR) is a real estate investment trust that specializes in investing in U.S. residential mortgage-backed securities. The company’s portfolio is weighted toward agency-guaranteed RMBS issued or guaranteed by U.S. government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. By focusing on collateral backed by federal agencies, Invesco Mortgage Capital seeks to generate attractive returns while managing credit risk through securities that carry explicit or implicit government guarantees.

To enhance its portfolio yield, the company employs leverage through repurchase agreements, warehouse facilities and debt financing.