Invesco Mortgage Capital (NYSE: IVR) has been improved by Zacks investment research from a “keep” note to a “buy” note in a research report given to clients and investors on Friday, Zacks.com reports. The brokerage firm currently has a price target of $ 3.50 on the shares of the REIT. Zacks investment researchThe company’s price target suggests a potential rise of 15.51% from the company’s current price.
According to Zacks, “Invesco Mortgage Capital Inc. is a real estate investment trust that focuses on the financing and management of residential and commercial mortgage-backed securities and mortgage loans. Invesco Mortgage Capital Inc. is managed and externally advised by Invesco Institutional (NA), Inc., a subsidiary of Invesco Ltd., one of the world’s leading independent investment management firms. The Company’s objective is to provide its investors with attractive risk-adjusted returns over the long term, primarily through dividends and secondarily through capital appreciation. “
IVR stock traded down $ 0.08 in Friday trading, reaching $ 3.03. The stock had a trade volume of 4,873,492 shares, compared to its average volume of 8,616,342. Invesco Mortgage Capital has a twelve-month low of $ 2.93 and a twelve-month high of $ 4.60. . The stock has a market cap of $ 944.58 million, a P / E ratio of 9.18 and a beta of 1.30. The company’s 50-day mobile average price is $ 3.16, and its two-hundred-day mobile average price is $ 3.33.
Invesco Mortgage Capital (NYSE: IVR) last released its quarterly results on Wednesday, November 3. The REIT reported EPS of $ 0.10 for the quarter, beating analysts’ consensus estimates of $ 0.09 by $ 0.01. Invesco Mortgage Capital recorded a return on equity of 15.62% and a net margin of 60.02%. During the same period of the previous year, the company made EPS of $ 0.06. As a group, stock analysts predict that Invesco Mortgage Capital will post earnings per share of 0.38 for the current fiscal year.
Meanwhile, Chairman Kevin M. Collins bought 9,000 shares in a transaction that took place on Wednesday, December 1. The stock was purchased at an average price of $ 2.96 per share, for a total transaction of $ 26,640.00. The purchase was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. During the last quarter, insiders purchased 15,236 shares of the company valued at $ 46,396. Insiders own 0.18% of the shares of the company.
Institutional investors have recently changed their holdings in the company. Principal Financial Group Inc. increased its stake in Invesco Mortgage Capital by 23.8% in the second quarter. Principal Financial Group Inc. now owns 1,992,604 real estate investment trust shares valued at $ 7,771,000 after purchasing an additional 382,631 shares in the last quarter. Comerica Bank increased its stake in Invesco Mortgage Capital shares by 13.7% during the 2nd quarter. Comerica Bank now owns 264,850 real estate investment trust shares worth $ 795,000 after purchasing an additional 31,896 shares during the last quarter. Natixis bought a new position in Invesco Mortgage Capital shares during the second quarter for a value of approximately $ 39,000. Vanguard Group Inc. increased its stake in Invesco Mortgage Capital shares by 25.9% during the second quarter. Vanguard Group Inc. now owns 29,632,977 real estate investment trust shares worth $ 115,569,000 after purchasing an additional 6,094,822 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Invesco Mortgage Capital shares by 44.2% during the second quarter. Parametric Portfolio Associates LLC now owns 1,198,792 Real Estate Investment Trust shares worth $ 4,675,000 after purchasing an additional 367,370 shares during the last quarter. 54.57% of the capital is held by institutional investors.
About Invesco Mortgage Capital
Invesco Mortgage Capital, Inc. is a holding company that invests, finances and manages residential and commercial mortgage-backed securities and mortgage loans. The Company invests primarily in the following securities: Residential Mortgage Backed Securities (RMBS), Commercial Mortgage Backed Securities (CMBS), Agency Free RMBS, Agency Free CMBS, Credit Risk Transfer Securities which are unsecured bonds issued by government funded companies, residential and commercial mortgages and other financing arrangements related to real estate.
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