Invesco Mortgage Capital Inc (IVR) Expected to Post Earnings of $0.40 Per Share
Wall Street analysts expect Invesco Mortgage Capital Inc (NYSE:IVR) to report $0.40 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Invesco Mortgage Capital’s earnings. Invesco Mortgage Capital reported earnings of $0.42 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is expected to report its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Invesco Mortgage Capital will report full-year earnings of $1.60 per share for the current financial year. For the next fiscal year, analysts expect that the firm will report earnings of $1.60 per share. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Invesco Mortgage Capital.
Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $86.27 million during the quarter, compared to the consensus estimate of $80.90 million. Invesco Mortgage Capital had a net margin of 64.31% and a return on equity of 9.18%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share.
IVR has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a research note on Friday, March 24th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price objective on shares of Invesco Mortgage Capital in a research note on Thursday, April 6th. Wunderlich lifted their price objective on shares of Invesco Mortgage Capital from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Finally, BidaskClub raised shares of Invesco Mortgage Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $17.08.
Invesco Mortgage Capital (NYSE IVR) traded up 0.18% during mid-day trading on Friday, reaching $16.83. 759,880 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $16.69 and a 200-day moving average price of $15.74. Invesco Mortgage Capital has a 12-month low of $14.15 and a 12-month high of $17.34. The stock has a market capitalization of $1.88 billion, a PE ratio of 4.42 and a beta of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Tuesday, June 27th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.51%. Invesco Mortgage Capital’s dividend payout ratio is presently 41.78%.
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In other news, insider John Anzalone purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was purchased at an average cost of $15.54 per share, with a total value of $31,080.00. Following the purchase, the insider now owns 62,107 shares in the company, valued at $965,142.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of 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 worth $3,288,000 after buying an additional 702 shares during the last quarter. Norges Bank bought a new stake in shares of Invesco Mortgage Capital during the fourth quarter worth $17,946,000. Teachers Advisors LLC raised its stake in shares of 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 worth $2,757,000 after buying an additional 3,906 shares during the last quarter. Creative Planning raised its stake in shares of 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 worth $818,000 after buying an additional 1,334 shares during the last quarter. Finally, Orinda Asset Management LLC bought a new stake in shares of Invesco Mortgage Capital during the first quarter worth $558,000. Institutional investors 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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