Invesco Mortgage Capital (NYSE:IVR) Reaches New 1-Year Low – Time to Sell?

Invesco Mortgage Capital Inc (NYSE:IVR) shares hit a new 52-week low during trading on Wednesday. The company traded as low as $5.61 and last traded at $5.6250, with a volume of 306274 shares trading hands. The stock had previously closed at $5.72.

Analysts Set New Price Targets

Several research firms have commented on IVR. Weiss Ratings cut Invesco Mortgage Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, September 22nd. Wall Street Zen lowered Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. UBS Group set a $7.75 price objective on Invesco Mortgage Capital and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Finally, Zacks Research lowered Invesco Mortgage Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 26th. One research 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.38.

Invesco Mortgage Capital Stock Down 1.1%

The company has a market capitalization of $608.70 million, a P/E ratio of 3.82 and a beta of 1.69. The stock has a fifty day simple moving average of $6.98 and a 200-day simple moving average of $7.64.

Invesco Mortgage Capital (NYSE:IVR) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $30.10 million for the quarter, compared to analyst estimates of $46.48 million. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. Analysts predict that Invesco Mortgage Capital Inc 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 Thursday, October 15th. Shareholders of record on Monday, September 28th will be paid a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a yield of 25.5%. The ex-dividend date of this dividend is Monday, September 28th. Invesco Mortgage Capital’s dividend payout ratio is currently 97.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Invesco Mortgage Capital during the 2nd quarter worth approximately $69,562,000. State Street Corp boosted its stake in Invesco Mortgage Capital by 31.6% in the second quarter. State Street Corp now owns 1,849,062 shares of the real estate investment trust’s stock worth $14,803,000 after purchasing an additional 443,882 shares in the last quarter. Van ECK Associates Corp boosted its stake in Invesco Mortgage Capital by 10.6% in the second quarter. Van ECK Associates Corp now owns 1,073,203 shares of the real estate investment trust’s stock worth $8,478,000 after purchasing an additional 102,772 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Invesco Mortgage Capital by 42.4% during the first quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust’s stock worth $5,471,000 after purchasing an additional 201,500 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Invesco Mortgage Capital by 190.1% in the first quarter. Bank of America Corp DE now owns 410,787 shares of the real estate investment trust’s stock valued at $3,319,000 after buying an additional 269,195 shares in the last quarter. 40.54% of the stock is owned by institutional investors and hedge funds.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc is a real estate investment trust (REIT) that invests in and manages a portfolio of mortgage-related assets. The company’s primary investments include residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and other mortgage-related investments.

Its portfolio has historically included agency RMBS, which are issued or guaranteed by U.S. government-sponsored enterprises or government agencies, as well as non-agency RMBS and commercial mortgage investments.