Invesco Mortgage Capital (NYSE:IVR) Reaches New 52-Week Low – Here’s What Happened

Invesco Mortgage Capital Inc (NYSE:IVR) shares hit a new 52-week low on Wednesday. The stock traded as low as $6.13 and last traded at $6.1250, with a volume of 1489371 shares. The stock had previously closed at $6.26.

Analyst Ratings Changes

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

Invesco Mortgage Capital Stock Down 2.3%

The stock has a fifty day moving average of $7.16 and a two-hundred day moving average of $7.72. The stock has a market cap of $658.22 million, a price-to-earnings ratio of 4.13 and a beta of 1.62.

Invesco Mortgage Capital (NYSE:IVR) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. The business had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $46.48 million. On average, research analysts expect that Invesco Mortgage Capital Inc will post 1.97 EPS 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. Shareholders of record on Monday, September 28th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, September 28th. This represents a $1.44 dividend on an annualized basis and a yield of 23.5%. Invesco Mortgage Capital’s dividend payout ratio (DPR) is 97.30%.

Institutional Investors Weigh In On Invesco Mortgage Capital

Several institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in shares of Invesco Mortgage Capital by 358.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 88,421 shares of the real estate investment trust’s stock worth $699,000 after acquiring an additional 69,137 shares during the period. State Street Corp grew its holdings in 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 valued at $14,803,000 after purchasing an additional 443,882 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Invesco Mortgage Capital by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 21,223 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 2,122 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Invesco Mortgage Capital during the 2nd quarter worth $727,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Invesco Mortgage Capital by 20.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,200 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2,226 shares during the last quarter. Hedge funds and other institutional investors 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.