Invesco Mortgage Capital (NYSE:IVR) Hits New 52-Week Low – Here’s What Happened

Invesco Mortgage Capital Inc (NYSE:IVR)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $7.00 and last traded at $6.9550, with a volume of 394314 shares traded. The stock had previously closed at $7.09.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IVR. Weiss Ratings raised shares of Invesco Mortgage Capital from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. UBS Group set a $7.75 price target on shares of Invesco Mortgage Capital and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Finally, Zacks Research lowered shares of Invesco Mortgage Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.38.

Invesco Mortgage Capital Stock Down 2.0%

The firm has a market capitalization of $747.56 million, a PE ratio of 4.69 and a beta of 1.62. The stock has a 50-day moving average price of $7.56 and a 200 day moving average price of $7.90.

Invesco Mortgage Capital (NYSE:IVR) last announced 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. Invesco Mortgage Capital had a return on equity of 26.48% and a net margin of 38.01%.The business had revenue of $30.10 million during the quarter, compared to the consensus estimate of $46.48 million. As a group, equities analysts predict that Invesco Mortgage Capital Inc will post 1.97 earnings per share for the current fiscal year.

Invesco Mortgage Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be issued a $0.12 dividend. This represents a c) annualized dividend and a yield of 20.7%. The ex-dividend date of this dividend is Tuesday, August 25th. 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 added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco Mortgage Capital by 3,282.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,044 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 2,954 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Invesco Mortgage Capital during the fourth quarter worth about $33,000. Caption Management LLC acquired a new position in shares of Invesco Mortgage Capital during the 4th quarter worth about $43,000. Comerica Bank raised its position in shares of Invesco Mortgage Capital by 1,722.1% during the 3rd quarter. Comerica Bank now owns 5,120 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 4,839 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Invesco Mortgage Capital by 83.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,599 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 2,548 shares in the last quarter. 40.54% of the stock is owned by hedge funds and other institutional investors.

About Invesco Mortgage Capital

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.