Rhumbline Advisers Grows Position in Invesco Mortgage Capital Inc (IVR)
Rhumbline Advisers increased its holdings in Invesco Mortgage Capital Inc (NYSE:IVR) by 86.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 269,027 shares of the real estate investment trust’s stock after purchasing an additional 125,073 shares during the quarter. Rhumbline Advisers’ holdings in Invesco Mortgage Capital were worth $4,797,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in IVR. Public Employees Retirement System of Ohio lifted its stake in Invesco Mortgage Capital by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 8,992 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 488 shares during the period. Nationwide Fund Advisors lifted its stake in Invesco Mortgage Capital by 28.2% in the third quarter. Nationwide Fund Advisors now owns 209,441 shares of the real estate investment trust’s stock worth $3,588,000 after acquiring an additional 46,024 shares during the period. Stevens Capital Management LP purchased a new stake in Invesco Mortgage Capital in the third quarter worth about $204,000. Principal Financial Group Inc. lifted its stake in Invesco Mortgage Capital by 34.8% in the third quarter. Principal Financial Group Inc. now owns 18,854 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 4,866 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Invesco Mortgage Capital by 29.1% in the third quarter. Bessemer Group Inc. now owns 118,500 shares of the real estate investment trust’s stock worth $2,030,000 after acquiring an additional 26,700 shares during the period. 68.76% of the stock is owned by institutional investors.
Separately, Credit Suisse Group lowered shares of Invesco Mortgage Capital from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $17.74 to $18.00 in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.08.
Invesco Mortgage Capital (NYSE:IVR) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05. The business had revenue of $93.04 million during the quarter, compared to the consensus estimate of $71.20 million. Invesco Mortgage Capital had a net margin of 56.83% and a return on equity of 9.56%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share.
In other news, Director Dennis P. Lockhart bought 61,750 shares of Invesco Mortgage Capital stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $988,000.00. Following the completion of the acquisition, the director now owns 33,427 shares of the company’s stock, valued at approximately $534,832. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Lee Jr. Phegley bought 1,750 shares of Invesco Mortgage Capital stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $15.49 per share, with a total value of $27,107.50. The disclosure for this purchase can be found here. Insiders acquired 65,000 shares of company stock valued at $1,039,273 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.
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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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