Invesco Mortgage Capital (NYSE:IVR) Sets New 1-Year Low – Here’s What Happened

Invesco Mortgage Capital Inc (NYSE:IVR)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.36 and last traded at $6.3850, with a volume of 776258 shares changing hands. The stock had previously closed at $6.46.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. 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 objective on Invesco Mortgage Capital and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Zacks Research cut Invesco Mortgage Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings downgraded Invesco Mortgage Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.38.

Invesco Mortgage Capital Price Performance

The business’s 50-day moving average price is $7.30 and its 200-day moving average price is $7.78. The firm has a market capitalization of $688.36 million, a PE ratio of 4.31 and a beta of 1.62.

Invesco Mortgage Capital (NYSE:IVR) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $30.10 million during the quarter, compared to the consensus estimate of $46.48 million. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. Equities analysts forecast that Invesco Mortgage Capital Inc will post 1.97 earnings per share for the current year.

Invesco Mortgage Capital Dividend Announcement

The firm 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 $0.12 dividend. The ex-dividend date is Monday, September 28th. This represents a c) dividend on an annualized basis and a yield of 22.5%. Invesco Mortgage Capital’s payout ratio is currently 97.30%.

Institutional Investors Weigh In On Invesco Mortgage Capital

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Invesco Mortgage Capital in the 2nd quarter valued at about $69,562,000. State Street Corp grew its stake in shares of Invesco Mortgage Capital by 31.6% in the 2nd quarter. State Street Corp now owns 1,849,062 shares of the real estate investment trust’s stock valued at $14,803,000 after purchasing an additional 443,882 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Invesco Mortgage Capital by 190.1% in the 1st 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 purchasing an additional 269,195 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Invesco Mortgage Capital in the second quarter valued at approximately $2,087,000. Finally, Odyssean LLC raised its stake in shares of Invesco Mortgage Capital by 144.9% during the second quarter. Odyssean LLC now owns 374,410 shares of the real estate investment trust’s stock worth $2,958,000 after purchasing an additional 221,498 shares during the last quarter. Institutional investors and hedge funds own 40.54% of the company’s stock.

About Invesco Mortgage Capital

Invesco Mortgage Capital Inc (NYSE: IVR) is a real estate investment trust that invests primarily in mortgage-related securities. Its portfolio has historically focused on residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises and government agencies, including securities backed by Fannie Mae, Freddie Mac and Ginnie Mae.

The company may also invest in other mortgage assets, including non-agency residential mortgage-backed securities, commercial mortgage-backed securities and mortgage loans.