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

Shares of Invesco Mortgage Capital Inc (NYSE:IVR) reached a new 52-week low during trading on Tuesday. The stock traded as low as $5.52 and last traded at $5.5150, with a volume of 1,698,620 shares traded. The stock had previously closed at $5.64.

Wall Street Analyst Weigh In

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

Invesco Mortgage Capital Stock Performance

The business’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $7.58. The stock has a market capitalization of $593.63 million, a P/E ratio of 3.73 and a beta of 1.69.

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. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. The firm had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $46.48 million. As a group, analysts forecast that Invesco Mortgage Capital Inc will post 1.97 earnings per share for the current year.

Invesco Mortgage Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 28th will be issued a $0.12 dividend. The ex-dividend date is Monday, September 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 26.1%. Invesco Mortgage Capital’s payout ratio is 97.30%.

Hedge Funds Weigh In On Invesco Mortgage Capital

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in Invesco Mortgage Capital by 358.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 88,421 shares of the real estate investment trust’s stock valued at $699,000 after buying an additional 69,137 shares during the period. State Street Corp boosted its stake in Invesco Mortgage Capital by 31.6% during 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 buying an additional 443,882 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Invesco Mortgage Capital by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 21,223 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 2,122 shares during the period. WINTON GROUP Ltd bought a new position in Invesco Mortgage Capital during the second quarter valued at $727,000. Finally, Integrated Wealth Concepts LLC increased its position in Invesco Mortgage Capital by 20.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,200 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 2,226 shares during the last quarter. Institutional investors own 40.54% of the company’s stock.

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.