Invesco Mortgage Capital (NYSE:IVR) Stock Lifted to “Hold” by 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 released on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Invesco Mortgage Capital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, November 9th. UBS Group set a $7.75 price target on shares of Invesco Mortgage Capital and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Finally, Zacks Research raised shares of Invesco Mortgage Capital from a “strong sell” rating to a “hold” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.38.

Invesco Mortgage Capital Stock Performance

IVR traded up $0.04 during trading on Friday, reaching $5.04. 4,354,935 shares of the company traded hands, compared to its average volume of 4,218,772. The company has a market cap of $549.32 million, a P/E ratio of -27.97 and a beta of 1.73. Invesco Mortgage Capital has a 12-month low of $4.84 and a 12-month high of $9.50. The firm has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $7.48.

Invesco Mortgage Capital (NYSE:IVR) last released its 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. Invesco Mortgage Capital had a negative net margin of 8.49% and a positive return on equity of 26.75%. The firm had revenue of $33.93 million for the quarter, compared to the consensus estimate of $57.52 million. As a group, sell-side analysts expect that Invesco Mortgage Capital will post 1.97 earnings per share for the current fiscal year.

Invesco Mortgage Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, October 26th will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 28.6%. The ex-dividend date of this dividend is Monday, October 26th. Invesco Mortgage Capital’s dividend payout ratio is -800.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Invesco Mortgage Capital during the second quarter valued at $69,562,000. State Street Corp grew its stake in shares of Invesco Mortgage Capital by 3.5% in the 3rd quarter. State Street Corp now owns 1,914,026 shares of the real estate investment trust’s stock worth $11,825,000 after buying an additional 64,964 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of 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 buying an additional 102,772 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 201,500 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Invesco Mortgage Capital in the 3rd quarter worth about $2,845,000. 40.54% of the stock is owned by hedge funds and other institutional investors.

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.