State of Tennessee Treasury Department acquired a new stake in Invesco Mortgage Capital Inc (NYSE:IVR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 88,641 shares of the real estate investment trust’s stock, valued at approximately $1,580,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Cipher Capital LP grew its holdings in shares of Invesco Mortgage Capital by 45.1% during the third quarter. Cipher Capital LP now owns 330,514 shares of the real estate investment trust’s stock valued at $5,662,000 after purchasing an additional 102,704 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Invesco Mortgage Capital by 4.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 784,020 shares of the real estate investment trust’s stock valued at $13,431,000 after purchasing an additional 36,774 shares during the last quarter. Convergence Investment Partners LLC grew its holdings in shares of Invesco Mortgage Capital by 292.8% during the fourth quarter. Convergence Investment Partners LLC now owns 63,834 shares of the real estate investment trust’s stock valued at $1,138,000 after purchasing an additional 47,582 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Invesco Mortgage Capital during the fourth quarter valued at approximately $494,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Invesco Mortgage Capital during the fourth quarter valued at approximately $856,000. 68.76% of the stock is owned by hedge funds and other institutional investors.
Invesco Mortgage Capital Inc (IVR) opened at $16.11 on Friday. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1,797.15, a P/E ratio of 9.36 and a beta of 0.70. Invesco Mortgage Capital Inc has a 52-week low of $14.72 and a 52-week high of $18.86.
Separately, Credit Suisse Group lowered Invesco Mortgage Capital from an “outperform” rating to a “neutral” rating and upped their target price for the company from $17.74 to $18.00 in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Invesco Mortgage Capital has a consensus rating of “Buy” and a consensus price target of $18.08.
In other Invesco Mortgage Capital news, Director Dennis P. Lockhart acquired 61,750 shares of Invesco Mortgage Capital stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $988,000.00. Following the completion of the transaction, the director now owns 33,427 shares in the company, valued at approximately $534,832. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Lee Jr. Phegley acquired 1,750 shares of Invesco Mortgage Capital stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $15.49 per share, with a total value of $27,107.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 65,000 shares of company stock valued at $1,039,273. Insiders own 0.25% of the company’s stock.
Invesco Mortgage Capital Profile
Invesco Mortgage Capital Inc is a holding company, which conducts its businesses through IAS Operating Partnership LP (the Operating Partnership) and subsidiaries. The Company’s objective is to provide risk-adjusted returns to its investors through dividends and through capital appreciation. It invests in residential mortgage-backed securities that are guaranteed by the United States Government agency, such as the Government National Mortgage Association or a federally chartered corporation, such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (collectively Agency RMBS); RMBS that are not guaranteed by the United States Government agency; Credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; commercial mortgage-backed securities; residential and commercial mortgage loans, and other real estate-related financing arrangements.
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