Thornburg Investment Management Inc. reduced its position in shares of Invesco Mortgage Capital Inc (NYSE:IVR) by 32.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,674,317 shares of the real estate investment trust’s stock after selling 3,625,733 shares during the period. Thornburg Investment Management Inc. owned 6.88% of Invesco Mortgage Capital worth $118,338,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Rational Advisors LLC bought a new position in shares of Invesco Mortgage Capital during the first quarter worth about $1,061,000. Parametric Portfolio Associates LLC boosted its position in shares of Invesco Mortgage Capital by 35.4% in the first quarter. Parametric Portfolio Associates LLC now owns 414,082 shares of the real estate investment trust’s stock worth $6,385,000 after buying an additional 108,324 shares during the period. Karp Capital Management Corp bought a new position in shares of Invesco Mortgage Capital during the first quarter worth about $739,000. UBS Asset Management Americas Inc. boosted its position in shares of Invesco Mortgage Capital by 31.5% in the first quarter. UBS Asset Management Americas Inc. now owns 95,577 shares of the real estate investment trust’s stock worth $1,474,000 after buying an additional 22,905 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Invesco Mortgage Capital by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 842,393 shares of the real estate investment trust’s stock worth $12,989,000 after buying an additional 40,495 shares during the period. 62.96% of the stock is owned by institutional investors.
Shares of Invesco Mortgage Capital Inc (NYSE:IVR) traded up 0.45% on Friday, hitting $15.73. 1,086,603 shares of the stock were exchanged. The firm’s 50-day moving average is $15.84 and its 200-day moving average is $15.22. Invesco Mortgage Capital Inc has a one year low of $13.24 and a one year high of $16.67. The company has a market cap of $1.76 billion, a P/E ratio of 4.13 and a beta of 0.76.
Invesco Mortgage Capital (NYSE:IVR) last released 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 13.63% and a return on equity of 9.82%. The business 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 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts forecast that Invesco Mortgage Capital Inc will post $1.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Monday, March 27th were issued a $0.40 dividend. The ex-dividend date was Thursday, March 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.22%. Invesco Mortgage Capital’s payout ratio is currently 432.44%.
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A number of research analysts have recently weighed in on the stock. Wunderlich raised their price objective 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. Keefe, Bruyette & Woods set a $16.00 price objective on shares of Invesco Mortgage Capital and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a research note on Friday, March 17th. TheStreet raised shares of Invesco Mortgage Capital from a “d+” rating to a “c-” rating in a research note on Wednesday, February 22nd. Finally, Instinet cut shares of Invesco Mortgage Capital from a “buy” rating to a “neutral” rating in a research note on Friday, February 24th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Invesco Mortgage Capital has a consensus rating of “Hold” and an average price target of $16.75.
In other Invesco Mortgage Capital news, insider John Anzalone bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $15.54 per share, for a total transaction of $31,080.00. Following the acquisition, the insider now directly owns 62,107 shares of the company’s stock, valued at $965,142.78. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David B. Lyle bought 4,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $69,000.00. Following the completion of the acquisition, the insider now directly owns 13,668 shares in the company, valued at $205,020. The disclosure for this purchase can be found here. Insiders purchased a total of 12,300 shares of company stock worth $188,430 over the last quarter. Insiders own 0.27% of the company’s stock.
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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