Invesco Mortgage Capital (NYSE:IVR – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, Zacks reports.
Several other research firms also recently commented on IVR. Wall Street Zen downgraded Invesco Mortgage Capital from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. UBS Group set a $7.75 price objective on Invesco Mortgage Capital and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings cut shares of Invesco Mortgage Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.38.
Get Our Latest Stock Analysis on Invesco Mortgage Capital
Invesco Mortgage Capital Price Performance
Invesco Mortgage Capital (NYSE:IVR – Get Free Report) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. Invesco Mortgage Capital had a return on equity of 26.48% and a net margin of 38.01%. The company had revenue of $30.10 million for the quarter, compared to the consensus estimate of $46.48 million. On average, equities research analysts expect that Invesco Mortgage Capital will post 1.97 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Invesco Mortgage Capital
Several large investors have recently made changes to their positions in IVR. Envestnet Asset Management Inc. grew its position in shares of Invesco Mortgage Capital by 358.5% during the second quarter. Envestnet Asset Management Inc. now owns 88,421 shares of the real estate investment trust’s stock worth $699,000 after purchasing an additional 69,137 shares in the last quarter. State Street Corp lifted its holdings in Invesco Mortgage Capital by 31.6% in the 2nd quarter. State Street Corp now owns 1,849,062 shares of the real estate investment trust’s stock worth $14,803,000 after purchasing an additional 443,882 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Invesco Mortgage Capital by 11.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,223 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 2,122 shares during the period. WINTON GROUP Ltd bought a new position in Invesco Mortgage Capital in the 2nd quarter worth approximately $727,000. Finally, Integrated Wealth Concepts LLC raised its position in shares of 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 buying an additional 2,226 shares during the last quarter. 40.54% of the stock is currently owned by hedge funds and other institutional investors.
About Invesco Mortgage Capital
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.
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