Invesco Mortgage Capital (NYSE:IVR) Sets New 1-Year Low – Time to Sell?

Shares of Invesco Mortgage Capital Inc (NYSE:IVR) hit a new 52-week low on Wednesday. The stock traded as low as $5.18 and last traded at $5.1850, with a volume of 2,772,396 shares traded. The stock had previously closed at $5.33.

Wall Street Analyst Weigh In

IVR has been the topic of a number of recent research reports. Wall Street Zen downgraded Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. UBS Group set a $7.75 price objective on shares of Invesco Mortgage Capital and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Zacks Research upgraded shares of Invesco Mortgage Capital from a “strong sell” rating to a “hold” rating in a report on Thursday, October 8th. Finally, Weiss Ratings lowered shares of Invesco Mortgage Capital from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.38.

Invesco Mortgage Capital Trading Up 1.1%

The firm has a market cap of $550.41 million, a P/E ratio of -28.03 and a beta of 1.73. The firm has a 50-day simple moving average of $5.92 and a 200-day simple moving average of $7.50.

Invesco Mortgage Capital (NYSE:IVR) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $33.93 million during the quarter, compared to analyst estimates of $57.52 million. Invesco Mortgage Capital had a positive return on equity of 26.75% and a negative net margin of 8.49%. Research analysts predict that Invesco Mortgage Capital Inc will post 1.97 earnings per share for the current fiscal year.

Invesco Mortgage Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, October 26th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 28.5%. The ex-dividend date is Monday, October 26th. Invesco Mortgage Capital’s payout ratio is -800.00%.

Institutional Trading of Invesco Mortgage Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Invesco Mortgage Capital in the second quarter worth about $69,562,000. State Street Corp raised its position in shares of Invesco Mortgage Capital by 31.6% in the 2nd quarter. State Street Corp now owns 1,849,062 shares of the real estate investment trust’s stock valued at $14,803,000 after purchasing an additional 443,882 shares during the last quarter. Van ECK Associates Corp boosted its stake in Invesco Mortgage Capital by 10.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,073,203 shares of the real estate investment trust’s stock worth $8,478,000 after purchasing an additional 102,772 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Invesco Mortgage Capital by 42.4% in the 1st quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust’s stock worth $5,471,000 after purchasing an additional 201,500 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Invesco Mortgage Capital by 190.1% in the 1st quarter. Bank of America Corp DE now owns 410,787 shares of the real estate investment trust’s stock worth $3,319,000 after purchasing an additional 269,195 shares in the last quarter. Hedge funds and other institutional investors own 40.54% of the company’s stock.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc. is a real estate investment trust that invests in mortgage-related assets, with a portfolio focused on residential and commercial mortgage-backed securities and mortgage loans. Its investments include securities backed by U.S. government agencies as well as non-agency securities. Founded in 2009, the company is externally managed by Invesco Advisers, Inc., an investment adviser affiliated with Invesco Ltd. Its activities are primarily focused on U.S. mortgage markets.