Invesco Mortgage Capital (NYSE:IVR) Rating Increased to Strong-Buy at Zacks Research

Invesco Mortgage Capital (NYSE:IVR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on IVR. UBS Group raised their price target on Invesco Mortgage Capital from $7.25 to $7.50 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Compass Point assumed coverage on Invesco Mortgage Capital in a research note on Monday, December 15th. They set a “buy” rating and a $9.00 target price on the stock. Wall Street Zen raised Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Invesco Mortgage Capital in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Invesco Mortgage Capital presently has a consensus rating of “Hold” and a consensus target price of $8.25.

Invesco Mortgage Capital Price Performance

Shares of NYSE:IVR opened at $8.34 on Monday. The company has a market capitalization of $591.37 million, a P/E ratio of 16.34 and a beta of 1.71. Invesco Mortgage Capital has a 1-year low of $5.86 and a 1-year high of $9.06. The firm’s 50 day simple moving average is $7.97 and its two-hundred day simple moving average is $7.74.

Invesco Mortgage Capital (NYSE:IVR) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Invesco Mortgage Capital had a net margin of 18.16% and a return on equity of 29.47%. The firm had revenue of ($22.71) million for the quarter, compared to the consensus estimate of $45.40 million. On average, sell-side analysts anticipate that Invesco Mortgage Capital will post 2.49 earnings per share for the current fiscal year.

Institutional Trading of Invesco Mortgage Capital

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Invesco Mortgage Capital by 31.0% during the 1st quarter. Russell Investments Group Ltd. now owns 11,989 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 2,835 shares during the last quarter. MetLife Investment Management LLC raised its stake in Invesco Mortgage Capital by 18.5% during the first quarter. MetLife Investment Management LLC now owns 35,709 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 5,586 shares in the last quarter. Corebridge Financial Inc. raised its stake in Invesco Mortgage Capital by 9.2% during the first quarter. Corebridge Financial Inc. now owns 29,972 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 2,517 shares in the last quarter. Vident Advisory LLC bought a new position in Invesco Mortgage Capital during the first quarter valued at $112,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Invesco Mortgage Capital by 151.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,295,263 shares of the real estate investment trust’s stock valued at $10,220,000 after purchasing an additional 780,225 shares during the last quarter. 40.54% of the stock is owned by hedge funds and other institutional investors.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc (NYSE: IVR) is a real estate investment trust that specializes in investing in U.S. residential mortgage-backed securities. The company’s portfolio is weighted toward agency-guaranteed RMBS issued or guaranteed by U.S. government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. By focusing on collateral backed by federal agencies, Invesco Mortgage Capital seeks to generate attractive returns while managing credit risk through securities that carry explicit or implicit government guarantees.

To enhance its portfolio yield, the company employs leverage through repurchase agreements, warehouse facilities and debt financing.