Invesco Mortgage Capital (IVR) Lowered to Sell at Zacks Investment Research

Invesco Mortgage Capital (NYSE:IVR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, July 11th.

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 equities research analysts have also commented on IVR. BidaskClub upgraded shares of Invesco Mortgage Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 price target on shares of Invesco Mortgage Capital in a research note on Friday, June 30th. Finally, Wunderlich lifted their price target 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.08.

NYSE:IVR traded down $0.09 during midday trading on Tuesday, hitting $16.13. 744,288 shares of the company were exchanged, compared to its average volume of 1,253,553. Invesco Mortgage Capital has a fifty-two week low of $15.15 and a fifty-two week high of $18.86. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.01 and a quick ratio of 0.01. The firm has a market capitalization of $1,810.54, a P/E ratio of 9.43 and a beta of 0.60.

Invesco Mortgage Capital (NYSE:IVR) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. Invesco Mortgage Capital had a net margin of 56.83% and a return on equity of 9.56%. The firm had revenue of $93.04 million for the quarter, compared to analyst estimates of $71.20 million. During the same period last year, the business earned $0.36 EPS. Invesco Mortgage Capital’s revenue for the quarter was up 16.0% compared to the same quarter last year.

In other news, CFO Richard Lee Jr. Phegley bought 1,750 shares of the stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $15.49 per share, with a total value of $27,107.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis P. Lockhart bought 61,750 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $988,000.00. Following the acquisition, the director now owns 33,427 shares of the company’s stock, valued at $534,832. The disclosure for this purchase can be found here. Insiders have acquired a total of 65,000 shares of company stock worth $1,039,273 over the last three months. 0.26% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted 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 valued at $3,288,000 after purchasing an additional 702 shares during the period. Norges Bank acquired a new position in Invesco Mortgage Capital during the fourth quarter worth about $17,946,000. Teachers Advisors LLC raised its position in Invesco Mortgage Capital by 2.1% during the fourth quarter. Teachers Advisors LLC now owns 188,845 shares of the real estate investment trust’s stock worth $2,757,000 after acquiring an additional 3,906 shares during the last quarter. Creative Planning raised its position in Invesco Mortgage Capital by 2.6% during the first quarter. Creative Planning now owns 53,062 shares of the real estate investment trust’s stock worth $818,000 after acquiring 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 worth about $558,000. 69.89% of the stock is currently owned by institutional investors and hedge funds.

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Invesco Mortgage Capital Company Profile

Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential and commercial mortgage-backed securities and mortgage loans. It invests in residential mortgage-backed securities (RMBS) that are guaranteed by the U.S. government agency or a federally chartered corporation; RMBS that are not issued or guaranteed by the U.S.

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