Zacks Research Upgrades Invesco Mortgage Capital (NYSE:IVR) to “Hold”

Invesco Mortgage Capital (NYSE:IVR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also weighed in on IVR. Wall Street Zen upgraded Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Invesco Mortgage Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.25.

Invesco Mortgage Capital Price Performance

Shares of IVR opened at $7.51 on Monday. The company has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.23. The firm has a market capitalization of $697.56 million, a PE ratio of 10.16 and a beta of 1.59. Invesco Mortgage Capital has a one year low of $7.10 and a one year high of $9.50.

Invesco Mortgage Capital (NYSE:IVR) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Invesco Mortgage Capital had a return on equity of 28.12% and a net margin of 20.50%.The firm had revenue of ($15.01) million for the quarter, compared to the consensus estimate of $39.80 million. Analysts expect that Invesco Mortgage Capital will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco Mortgage Capital

Several large investors have recently made changes to their positions in IVR. 180 Wealth Advisors LLC boosted its position in shares of Invesco Mortgage Capital by 7.4% in the 2nd quarter. 180 Wealth Advisors LLC now owns 24,597 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 1,690 shares in the last quarter. PVG Asset Management Corp increased its position in Invesco Mortgage Capital by 3.9% during the 2nd quarter. PVG Asset Management Corp now owns 133,630 shares of the real estate investment trust’s stock valued at $1,056,000 after buying an additional 4,970 shares in the last quarter. Bank of America Corp DE increased its position in Invesco Mortgage Capital by 190.1% during the 1st quarter. Bank of America Corp DE now owns 410,787 shares of the real estate investment trust’s stock valued at $3,319,000 after buying an additional 269,195 shares in the last quarter. Quantinno Capital Management LP increased its position in Invesco Mortgage Capital by 24.0% during the 1st quarter. Quantinno Capital Management LP now owns 45,497 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 8,805 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Invesco Mortgage Capital by 42.4% during the first quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust’s stock valued at $5,471,000 after buying an additional 201,500 shares during the last quarter. 40.54% of the stock is currently owned by hedge funds and other 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.