Invesco Mortgage Capital (NYSE:IVR) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Invesco Mortgage Capital (NYSE:IVR) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also weighed in on IVR. Weiss Ratings lowered Invesco Mortgage Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Invesco Mortgage Capital presently has a consensus rating of “Hold” and a consensus target price of $8.25.

Invesco Mortgage Capital Price Performance

Shares of NYSE:IVR opened at $7.51 on Monday. The firm has a market capitalization of $697.56 million, a PE ratio of 10.16 and a beta of 1.59. The business has a 50 day simple moving average of $7.89 and a two-hundred day simple moving average of $8.23. Invesco Mortgage Capital has a 1 year low of $7.10 and a 1 year high of $9.50.

Invesco Mortgage Capital (NYSE:IVR) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Invesco Mortgage Capital had a return on equity of 28.12% and a net margin of 20.50%.The firm had revenue of ($15.01) million for the quarter, compared to the consensus estimate of $39.80 million. Equities research analysts expect that Invesco Mortgage Capital will post 2.01 EPS for the current fiscal year.

Invesco Mortgage Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 27th will be issued a $0.12 dividend. This represents a c) annualized dividend and a dividend yield of 19.2%. The ex-dividend date is Monday, July 27th. Invesco Mortgage Capital’s dividend payout ratio is currently 194.59%.

Hedge Funds Weigh In On Invesco Mortgage Capital

Several institutional investors have recently made changes to their positions in IVR. Jones Financial Companies Lllp lifted its stake in Invesco Mortgage Capital by 4,329.2% in the first quarter. Jones Financial Companies Lllp now owns 17,008 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 16,624 shares during the period. Goldman Sachs Group Inc. increased its position in Invesco Mortgage Capital by 9.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 368,466 shares of the real estate investment trust’s stock valued at $2,907,000 after purchasing an additional 31,410 shares during the period. Jane Street Group LLC bought a new stake in shares of Invesco Mortgage Capital in the 1st quarter valued at about $144,000. Strs Ohio bought a new stake in shares of Invesco Mortgage Capital in the 1st quarter valued at about $82,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Invesco Mortgage Capital by 63.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,097 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 8,553 shares during the period. Hedge funds and other institutional investors own 40.54% of the company’s stock.

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.