Invesco Mortgage Capital (NYSE:IVR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Invesco Mortgage Capital (NYSE:IVR) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

IVR has been the topic of a number of other research reports. UBS Group set a $7.75 target price on Invesco Mortgage Capital and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Weiss Ratings raised Invesco Mortgage Capital from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research cut Invesco Mortgage Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.38.

Invesco Mortgage Capital Trading Up 1.5%

IVR stock opened at $7.21 on Friday. Invesco Mortgage Capital has a 12 month low of $7.05 and a 12 month high of $9.50. The company has a 50-day moving average price of $7.61 and a 200 day moving average price of $7.94. The stock has a market cap of $776.08 million, a PE ratio of 4.87 and a beta of 1.62.

Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $30.10 million for the quarter, compared to analyst estimates of $46.48 million. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. Sell-side analysts forecast that Invesco Mortgage Capital will post 1.97 EPS for the current year.

Invesco Mortgage Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, August 25th. This represents a c) dividend on an annualized basis and a dividend yield of 20.0%. Invesco Mortgage Capital’s payout ratio is presently 97.30%.

Institutional Investors Weigh In On Invesco Mortgage Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Invesco Mortgage Capital in the 2nd quarter worth $69,562,000. Millennium Management LLC increased its stake in shares of Invesco Mortgage Capital by 1,607.0% during the third quarter. Millennium Management LLC now owns 1,523,395 shares of the real estate investment trust’s stock valued at $11,517,000 after buying an additional 1,434,149 shares during the period. UBS Group AG increased its stake in shares of Invesco Mortgage Capital by 68.8% during the fourth quarter. UBS Group AG now owns 1,094,468 shares of the real estate investment trust’s stock valued at $9,204,000 after buying an additional 446,017 shares during the period. Two Sigma Investments LP raised its holdings in shares of Invesco Mortgage Capital by 66.0% in the third quarter. Two Sigma Investments LP now owns 1,017,198 shares of the real estate investment trust’s stock valued at $7,690,000 after acquiring an additional 404,497 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Invesco Mortgage Capital by 190.1% in the first quarter. Bank of America Corp DE now owns 410,787 shares of the real estate investment trust’s stock valued at $3,319,000 after acquiring an additional 269,195 shares in the last quarter. 40.54% of the stock is owned by institutional investors.

Invesco Mortgage Capital Company Profile

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.