Invesco Mortgage Capital Inc (NYSE:IVR) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Invesco Mortgage Capital Inc (NYSE:IVR) 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. “
A number of other brokerages also recently commented on IVR. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $16.00 target price on shares of Invesco Mortgage Capital in a research note on Thursday, April 6th. BidaskClub raised shares of Invesco Mortgage Capital from a hold rating to a buy rating in a research note on Tuesday, June 13th. Finally, Wunderlich lifted their target price 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $17.08.
Invesco Mortgage Capital (NYSE IVR) traded up 0.12% during mid-day trading on Tuesday, reaching $16.69. 435,018 shares of the company were exchanged. The company has a 50 day moving average of $16.75 and a 200-day moving average of $15.85. Invesco Mortgage Capital has a 1-year low of $14.15 and a 1-year high of $17.34. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 4.39 and a beta of 0.81.
Invesco Mortgage Capital (NYSE:IVR) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $80.90 million. During the same period in the previous year, the firm earned $0.45 earnings per share. Invesco Mortgage Capital’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Invesco Mortgage Capital will post $1.59 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Tuesday, June 27th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.59%. The ex-dividend date was Friday, June 23rd. Invesco Mortgage Capital’s dividend payout ratio (DPR) is 41.78%.
In related news, insider John Anzalone purchased 2,000 shares of Invesco Mortgage Capital stock in a transaction dated Tuesday, May 9th. The shares were acquired 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 of the company’s stock, valued at $965,142.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Invesco Mortgage Capital by 32,968.8% in the first quarter. BlackRock Inc. now owns 10,802,925 shares of the real estate investment trust’s stock worth $166,582,000 after buying an additional 10,770,257 shares during the period. Norges Bank bought a new stake in Invesco Mortgage Capital during the fourth quarter worth about $17,946,000. Nuveen Asset Management LLC increased its stake in Invesco Mortgage Capital by 72.6% in the first quarter. Nuveen Asset Management LLC now owns 1,828,167 shares of the real estate investment trust’s stock worth $28,190,000 after buying an additional 768,763 shares during the period. Vanguard Group Inc. increased its stake in Invesco Mortgage Capital by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,061,724 shares of the real estate investment trust’s stock worth $139,731,000 after buying an additional 559,928 shares during the period. Finally, Bank of Montreal Can increased its stake in Invesco Mortgage Capital by 7,959.7% in the second quarter. Bank of Montreal Can now owns 413,542 shares of the real estate investment trust’s stock worth $6,911,000 after buying an additional 408,411 shares during the period. 64.66% of the stock is currently owned by institutional investors and hedge funds.
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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