Invesco Mortgage Capital Inc. (IVR) Lowered to Sell at Zacks Investment Research
Invesco Mortgage Capital Inc. (NYSE:IVR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Invesco Mortgage Capital Inc. is a real estate investment trust that focuses on financing and managing residential and commercial mortgage-backed securities and mortgage loans. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Institutional (N.A.), Inc., a subsidiary of Invesco Ltd., a leading independent global investment management company. The company’s objective is to provide attractive risk-adjusted returns to its investors over the long term, primarily through dividends and secondarily through capital appreciation. “
Several other analysts have also issued reports on the stock. Credit Suisse Group AG restated a “buy” rating and set a $16.50 target price on shares of Invesco Mortgage Capital in a research report on Friday, September 9th. Barclays PLC boosted their target price on shares of Invesco Mortgage Capital from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods set a $16.30 price target on shares of Invesco Mortgage Capital and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Nomura reiterated an “in-line” rating and issued a $17.00 price target (up from $16.00) on shares of Invesco Mortgage Capital in a research report on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.97.
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Invesco Mortgage Capital (NYSE:IVR) opened at 14.45 on Wednesday. The stock’s 50 day moving average is $15.38 and its 200-day moving average is $14.19. The company’s market capitalization is $1.61 billion. Invesco Mortgage Capital has a 52-week low of $9.74 and a 52-week high of $16.28.
Invesco Mortgage Capital (NYSE:IVR) last announced its earnings results on Friday, August 5th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company earned $79.24 million during the quarter, compared to analyst estimates of $72.22 million. Invesco Mortgage Capital had a negative net margin of 34.78% and a positive return on equity of 9.86%. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Analysts predict that Invesco Mortgage Capital will post $1.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Tuesday, September 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.07%. The ex-dividend date is Friday, September 23rd. Invesco Mortgage Capital’s dividend payout ratio (DPR) is presently -86.02%.
In related news, insider John Anzalone bought 3,000 shares of the stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $15.38 per share, with a total value of $46,140.00. Following the completion of the acquisition, the insider now owns 57,107 shares of the company’s stock, valued at $878,305.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard J. King bought 5,000 shares of the stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $15.38 per share, for a total transaction of $76,900.00. Following the acquisition, the chief executive officer now directly owns 114,402 shares of the company’s stock, valued at approximately $1,759,502.76. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in Invesco Mortgage Capital by 60.0% in the second quarter. Acrospire Investment Management LLC now owns 8,000 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 3,000 shares during the period. Acadian Asset Management LLC acquired a new stake in Invesco Mortgage Capital during the second quarter worth about $114,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Invesco Mortgage Capital during the second quarter worth about $125,000. Public Employees Retirement System of Ohio increased its stake in Invesco Mortgage Capital by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 9,843 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 493 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Invesco Mortgage Capital by 58.5% in the first quarter. BlackRock Inc. now owns 11,668 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 4,308 shares during the last quarter. 63.42% of the stock is currently owned by hedge funds and other institutional investors.
About Invesco Mortgage Capital
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