Wall Street Zen Upgrades Invesco Mortgage Capital (NYSE:IVR) to Hold
by Scott Moore · The Cerbat GemInvesco Mortgage Capital (NYSE:IVR – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.
Other equities analysts have also issued research reports about the company. UBS Group set a $7.75 price target on Invesco Mortgage Capital and gave the stock a “neutral” rating in a report 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 research report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Invesco Mortgage Capital presently has a consensus rating of “Hold” and an average price target of $8.38.
Check Out Our Latest Stock Report on Invesco Mortgage Capital
Invesco Mortgage Capital Stock Performance
Shares of Invesco Mortgage Capital stock opened at $7.21 on Friday. Invesco Mortgage Capital has a 1 year low of $7.05 and a 1 year high of $9.50. The company has a market capitalization of $776.08 million, a P/E ratio of 4.87 and a beta of 1.62. The company’s fifty day moving average is $7.61 and its two-hundred day moving average is $7.94.
Invesco Mortgage Capital (NYSE:IVR – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. The company had revenue of $30.10 million for the quarter, compared to analyst estimates of $46.48 million. As a group, equities analysts expect that Invesco Mortgage Capital will post 1.97 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Invesco Mortgage Capital in the second quarter valued at about $69,562,000. Millennium Management LLC boosted its holdings in Invesco Mortgage Capital by 1,607.0% in the 3rd quarter. Millennium Management LLC now owns 1,523,395 shares of the real estate investment trust’s stock valued at $11,517,000 after purchasing an additional 1,434,149 shares in the last quarter. UBS Group AG increased its position in Invesco Mortgage Capital by 68.8% during the 4th quarter. UBS Group AG now owns 1,094,468 shares of the real estate investment trust’s stock worth $9,204,000 after purchasing an additional 446,017 shares during the period. Two Sigma Investments LP increased its position in Invesco Mortgage Capital by 66.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,017,198 shares of the real estate investment trust’s stock worth $7,690,000 after purchasing an additional 404,497 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Invesco Mortgage Capital by 190.1% during 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 buying an additional 269,195 shares in the last quarter. 40.54% of the stock is owned by hedge funds and other 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.