Municipal Employees Retirement System of Michigan acquired a new stake in Invesco Mortgage Capital Inc (NYSE:IVR) in the 4th quarter, HoldingsChannel reports. The fund acquired 42,210 shares of the real estate investment trust’s stock, valued at approximately $753,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ETRADE Capital Management LLC acquired a new position in Invesco Mortgage Capital in the third quarter valued at $172,000. Schroder Investment Management Group purchased a new stake in shares of Invesco Mortgage Capital in the fourth quarter valued at about $177,000. First Allied Advisory Services Inc. purchased a new stake in shares of Invesco Mortgage Capital in the fourth quarter valued at about $203,000. Ramsey Quantitative Systems purchased a new stake in shares of Invesco Mortgage Capital in the fourth quarter valued at about $251,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Invesco Mortgage Capital in the fourth quarter valued at about $256,000. Institutional investors own 69.88% of the company’s stock.
Separately, Credit Suisse Group cut shares of 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 assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $18.08.
Shares of Invesco Mortgage Capital stock opened at $16.27 on Friday. Invesco Mortgage Capital Inc has a 1-year low of $14.84 and a 1-year high of $18.86. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.86. The company has a market cap of $1,816.12, a PE ratio of 9.46 and a beta of 0.70.
Invesco Mortgage Capital (NYSE:IVR) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Invesco Mortgage Capital had a net margin of 56.83% and a return on equity of 9.56%. The business had revenue of $93.04 million during the quarter, compared to analysts’ expectations of $71.20 million. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Tuesday, March 27th will be issued a $0.42 dividend. The ex-dividend date is Monday, March 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.33%. Invesco Mortgage Capital’s payout ratio is 61.09%.
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Invesco Mortgage Capital Company 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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