Invesco Mortgage Capital (NYSE:IVR) Reaches New 12-Month Low – Should You Sell?

Invesco Mortgage Capital Inc (NYSE:IVR)’s stock price reached a new 52-week low on Tuesday. The stock traded as low as $5.19 and last traded at $5.2450, with a volume of 630,668 shares trading hands. The stock had previously closed at $5.34.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IVR. Weiss Ratings cut Invesco Mortgage Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, September 22nd. Wall Street Zen downgraded shares of Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Zacks Research raised shares of Invesco Mortgage Capital from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 8th. Finally, UBS Group set a $7.75 price target on shares of Invesco Mortgage Capital and gave the company a “neutral” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.38.

Invesco Mortgage Capital Price Performance

The stock’s 50-day moving average price is $6.16 and its 200 day moving average price is $7.62. The firm has a market cap of $589.87 million, a P/E ratio of -30.34 and a beta of 1.73.

Invesco Mortgage Capital (NYSE:IVR) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Invesco Mortgage Capital had a negative net margin of 8.49% and a positive return on equity of 26.75%. The business had revenue of $33.93 million during the quarter, compared to the consensus estimate of $57.52 million. As a group, analysts forecast that Invesco Mortgage Capital Inc will post 1.97 EPS for the current fiscal year.

Invesco Mortgage Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, October 26th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 26.3%. The ex-dividend date is Monday, October 26th. Invesco Mortgage Capital’s dividend payout ratio (DPR) is -800.00%.

Institutional Trading of Invesco Mortgage Capital

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Invesco Mortgage Capital in the 2nd quarter valued at $69,562,000. State Street Corp increased its position in Invesco Mortgage Capital by 31.6% during the 2nd quarter. State Street Corp now owns 1,849,062 shares of the real estate investment trust’s stock worth $14,803,000 after buying an additional 443,882 shares during the period. Bank of America Corp DE increased its position in 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 during the period. Bank of New York Mellon Corp bought a new position in Invesco Mortgage Capital during the 2nd quarter worth $2,087,000. Finally, Odyssean LLC lifted its holdings 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 buying an additional 221,498 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 (NYSE: IVR) is a real estate investment trust that invests primarily in mortgage-related assets. The company focuses on residential and commercial mortgage-backed securities, including securities issued or guaranteed by U.S. government-sponsored enterprises and agencies, as well as non-agency mortgage-backed securities and other mortgage-related investments.

Invesco Mortgage Capital seeks to generate income from its investment portfolio through interest payments and other returns associated with mortgage assets.