Invesco Mortgage Capital (NYSE:IVR) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Invesco Mortgage Capital (NYSE:IVR) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on IVR. Wall Street Zen raised shares of Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Compass Point began coverage on shares of Invesco Mortgage Capital in a research report on Monday, December 15th. They issued a “buy” rating and a $9.00 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Invesco Mortgage Capital in a research note on Monday. Finally, UBS Group raised their price objective on shares of Invesco Mortgage Capital from $7.25 to $7.50 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Invesco Mortgage Capital presently has an average rating of “Hold” and an average price target of $8.25.

Invesco Mortgage Capital Stock Performance

Shares of Invesco Mortgage Capital stock opened at $8.34 on Monday. The stock has a market cap of $591.37 million, a P/E ratio of 16.34 and a beta of 1.71. The stock’s fifty day moving average is $7.97 and its 200 day moving average is $7.74. Invesco Mortgage Capital has a one year low of $5.86 and a one year high of $9.06.

Invesco Mortgage Capital (NYSE:IVR) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Invesco Mortgage Capital had a return on equity of 29.47% and a net margin of 18.16%.The business had revenue of ($22.71) million during the quarter, compared to analyst estimates of $45.40 million. Analysts predict that Invesco Mortgage Capital will post 2.49 EPS for the current year.

Invesco Mortgage Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Monday, December 29th will be given a dividend of $0.36 per share. The ex-dividend date is Monday, December 29th. This is an increase from Invesco Mortgage Capital’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 17.3%. Invesco Mortgage Capital’s dividend payout ratio (DPR) is 282.35%.

Hedge Funds Weigh In On Invesco Mortgage Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. PharVision Advisers LLC bought a new stake in Invesco Mortgage Capital in the 3rd quarter valued at $94,000. Millennium Management LLC grew its position in shares of Invesco Mortgage Capital by 1,607.0% during the third quarter. Millennium Management LLC now owns 1,523,395 shares of the real estate investment trust’s stock valued at $11,517,000 after purchasing an additional 1,434,149 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Invesco Mortgage Capital by 7.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,544,194 shares of the real estate investment trust’s stock worth $11,674,000 after purchasing an additional 113,608 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Invesco Mortgage Capital by 27.9% in the third quarter. Alliancebernstein L.P. now owns 79,663 shares of the real estate investment trust’s stock worth $602,000 after buying an additional 17,400 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Invesco Mortgage Capital by 1.2% in the third quarter. Ameriprise Financial Inc. now owns 340,898 shares of the real estate investment trust’s stock worth $2,577,000 after buying an additional 4,101 shares in the last quarter. Institutional investors own 40.54% of the company’s stock.

Invesco Mortgage Capital Company Profile

Invesco Mortgage Capital Inc (NYSE: IVR) is a real estate investment trust that specializes in investing in U.S. residential mortgage-backed securities. The company’s portfolio is weighted toward agency-guaranteed RMBS issued or guaranteed by U.S. government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. By focusing on collateral backed by federal agencies, Invesco Mortgage Capital seeks to generate attractive returns while managing credit risk through securities that carry explicit or implicit government guarantees.

To enhance its portfolio yield, the company employs leverage through repurchase agreements, warehouse facilities and debt financing.