Invesco Mortgage Capital Inc (NYSE:IVR) Stock Rating Upgraded by Keefe, Bruyette & Woods
Invesco Mortgage Capital Inc (NYSE:IVR) was upgraded by investment analysts at Keefe, Bruyette & Woods to a “buy” rating in a report issued on Monday.
Several other equities research analysts have also recently issued reports on IVR. Zacks Investment Research cut shares of Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub upgraded shares of Invesco Mortgage Capital from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Wunderlich raised their target price on shares of Invesco Mortgage Capital from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $16.75.
Shares of Invesco Mortgage Capital (NYSE IVR) opened at 16.55 on Monday. Invesco Mortgage Capital has a 12-month low of $13.98 and a 12-month high of $17.34. The company has a market cap of $1.85 billion, a PE ratio of 4.35 and a beta of 0.81. The company has a 50 day moving average of $16.37 and a 200-day moving average of $15.56.
Invesco Mortgage Capital (NYSE:IVR) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Invesco Mortgage Capital had a net margin of 64.31% and a return on equity of 9.18%. The company had revenue of $86.27 million for the quarter, compared to analysts’ expectations of $80.90 million. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Invesco Mortgage Capital will post $1.60 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Tuesday, June 27th will be given a $0.40 dividend. The ex-dividend date is Friday, June 23rd. This represents a $1.60 annualized dividend and a yield of 9.67%. Invesco Mortgage Capital’s payout ratio is presently 41.78%.
In other Invesco Mortgage Capital news, insider John Anzalone purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $15.54 per share, for a total transaction of $31,080.00. Following the completion of the transaction, the insider now owns 62,107 shares of the company’s stock, valued at $965,142.78. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Invesco Mortgage Capital by 0.3% in the fourth quarter. AQR Capital Management LLC now owns 225,174 shares of the real estate investment trust’s stock valued at $3,288,000 after buying an additional 702 shares during the last quarter. Norges Bank acquired a new position in Invesco Mortgage Capital during the fourth quarter valued at $17,946,000. Teachers Advisors LLC increased its position in Invesco Mortgage Capital by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 188,845 shares of the real estate investment trust’s stock valued at $2,757,000 after buying an additional 3,906 shares during the last quarter. Creative Planning increased its position in Invesco Mortgage Capital by 2.6% in the first quarter. Creative Planning now owns 53,062 shares of the real estate investment trust’s stock valued at $818,000 after buying an additional 1,334 shares during the last quarter. Finally, Orinda Asset Management LLC acquired a new position in Invesco Mortgage Capital during the first quarter valued at $558,000. Institutional investors and hedge funds own 64.80% of the company’s stock.
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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