Compass Point Initiates Coverage on Invesco Mortgage Capital (NYSE:IVR)

Research analysts at Compass Point assumed coverage on shares of Invesco Mortgage Capital (NYSE:IVR) in a research report issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $9.00 price target on the real estate investment trust’s stock. Compass Point’s target price suggests a potential upside of 10.24% from the company’s previous close.

A number of other research analysts have also issued reports 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 Sunday, November 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Invesco Mortgage Capital in a report on Monday. Finally, UBS Group raised their target price on Invesco Mortgage Capital from $7.25 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Invesco Mortgage Capital currently has an average rating of “Hold” and an average price target of $8.25.

Invesco Mortgage Capital Stock Performance

Shares of NYSE IVR opened at $8.16 on Monday. The company has a market cap of $579.24 million, a PE ratio of 16.01 and a beta of 1.71. The business has a 50-day simple moving average of $7.72 and a two-hundred day simple moving average of $7.67. Invesco Mortgage Capital has a fifty-two week low of $5.86 and a fifty-two week high of $9.06.

Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of ($22.71) million for the quarter, compared to the consensus estimate of $45.40 million. Invesco Mortgage Capital had a net margin of 18.16% and a return on equity of 29.47%. On average, sell-side analysts predict that Invesco Mortgage Capital will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco Mortgage Capital

Several hedge funds have recently added to or reduced their stakes in IVR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Invesco Mortgage Capital by 151.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,295,263 shares of the real estate investment trust’s stock worth $10,220,000 after purchasing an additional 780,225 shares during the period. Wolverine Asset Management LLC boosted its holdings in Invesco Mortgage Capital by 134.6% during the second quarter. Wolverine Asset Management LLC now owns 964,658 shares of the real estate investment trust’s stock worth $7,563,000 after buying an additional 553,495 shares in the last quarter. Geode Capital Management LLC increased its holdings in Invesco Mortgage Capital by 4.7% in the second quarter. Geode Capital Management LLC now owns 1,577,067 shares of the real estate investment trust’s stock valued at $12,366,000 after buying an additional 70,151 shares in the last quarter. Corebridge Financial Inc. raised its position in shares of Invesco Mortgage Capital by 9.2% in the first quarter. Corebridge Financial Inc. now owns 29,972 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 2,517 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Invesco Mortgage Capital by 42.0% during the 2nd quarter. Cetera Investment Advisers now owns 194,010 shares of the real estate investment trust’s stock valued at $1,521,000 after acquiring an additional 57,365 shares during the period. 40.54% of the stock is owned by hedge funds and other institutional investors.

Invesco Mortgage Capital Company Profile

Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that invests, finances, and manages mortgage-backed securities and other mortgage-related assets in the United States. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S.