Invesco Mortgage Capital (NYSE:IVR) Raised to “Hold” at Zacks Research

Invesco Mortgage Capital (NYSE:IVR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, Zacks reports.

Several other equities research analysts also recently commented on the stock. Wall Street Zen downgraded shares of Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Weiss Ratings lowered shares of Invesco Mortgage Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, September 22nd. Finally, UBS Group set a $7.75 price objective on Invesco Mortgage Capital and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.38.

Invesco Mortgage Capital Stock Up 0.3%

Shares of NYSE IVR opened at $5.70 on Thursday. The company has a market capitalization of $613.01 million, a PE ratio of 3.85 and a beta of 1.69. The stock’s 50 day moving average price is $6.88 and its 200-day moving average price is $7.59. Invesco Mortgage Capital has a twelve month low of $5.52 and a twelve month high of $9.50.

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 (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $30.10 million during the quarter, compared to analyst estimates of $46.48 million. Invesco Mortgage Capital had a return on equity of 26.48% and a net margin of 38.01%. As a group, research analysts expect that Invesco Mortgage Capital will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco Mortgage Capital

Several large investors have recently made changes to their positions in IVR. BlackRock Inc. purchased a new position in Invesco Mortgage Capital in the second quarter worth about $69,562,000. State Street Corp grew its holdings in shares of 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 acquiring an additional 443,882 shares during the period. Van ECK Associates Corp increased its position in shares of Invesco Mortgage Capital by 10.6% during the 2nd quarter. Van ECK Associates Corp now owns 1,073,203 shares of the real estate investment trust’s stock valued at $8,478,000 after purchasing an additional 102,772 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Invesco Mortgage Capital by 42.4% during the 1st quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust’s stock valued at $5,471,000 after acquiring an additional 201,500 shares during the period. Finally, Bank of America Corp DE raised its holdings in 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 worth $3,319,000 after purchasing an additional 269,195 shares during the period. 40.54% of the stock is currently owned by hedge funds and other institutional investors.

Invesco Mortgage Capital Company Profile

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.