Invesco Mortgage Capital (NYSE:IVR) Cut to Sell at Wall Street Zen

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

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Invesco Mortgage Capital from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. UBS Group set a $7.75 price objective on Invesco Mortgage Capital and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings lowered Invesco Mortgage Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.38.

Invesco Mortgage Capital Trading Down 2.6%

IVR stock opened at $6.25 on Friday. The firm’s 50-day moving average price is $7.20 and its two-hundred day moving average price is $7.74. Invesco Mortgage Capital has a 12-month low of $6.15 and a 12-month high of $9.50. The stock has a market capitalization of $672.21 million, a price-to-earnings ratio of 4.22 and a beta of 1.62.

Invesco Mortgage Capital (NYSE:IVR) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $30.10 million during the quarter, compared to the consensus estimate of $46.48 million. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. Equities analysts predict that Invesco Mortgage Capital will post 1.97 EPS for the current year.

Invesco Mortgage Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 28th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 23.1%. Invesco Mortgage Capital’s payout ratio is presently 97.30%.

Hedge Funds Weigh In On Invesco Mortgage Capital

Several hedge funds and other institutional investors have recently modified their holdings of IVR. BlackRock Inc. bought a new stake in Invesco Mortgage Capital during the 2nd quarter valued at approximately $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 worth $14,803,000 after acquiring an additional 443,882 shares in the last quarter. Bank of America Corp DE raised its position in shares of 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 acquiring an additional 269,195 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Invesco Mortgage Capital in the 2nd quarter valued at approximately $2,087,000. Finally, Odyssean LLC lifted its stake in shares of Invesco Mortgage Capital by 144.9% in the 2nd quarter. Odyssean LLC now owns 374,410 shares of the real estate investment trust’s stock valued at $2,958,000 after purchasing an additional 221,498 shares during the period. Hedge funds and other institutional investors own 40.54% of the company’s stock.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc (NYSE: IVR) is a real estate investment trust that invests primarily in mortgage-related securities. Its portfolio has historically focused on residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises and government agencies, including securities backed by Fannie Mae, Freddie Mac and Ginnie Mae.

The company may also invest in other mortgage assets, including non-agency residential mortgage-backed securities, commercial mortgage-backed securities and mortgage loans.