Invesco Mortgage Capital (NYSE:IVR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Invesco Mortgage Capital from “sell” to “hold,” aligning with the broader consensus “Hold” rating and an average analyst price target of $8.38.
• IVR shares opened at $7.21, near their one-year low of $7.05, while the company’s latest quarterly results met expectations with earnings of $0.50 per share but revenue of $30.10 million below forecasts.
• Institutional ownership stands at 40.54%, with major investors including BlackRock, UBS Group, Bank of America, and Renaissance Technologies increasing or initiating positions.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the stock. Weiss Ratings raised shares of Invesco Mortgage Capital from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of Invesco Mortgage Capital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 26th. Finally, UBS Group set a $7.75 target price on shares of Invesco Mortgage Capital and gave the company a "neutral" rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Invesco Mortgage Capital presently has a consensus rating of "Hold" and an average price target of $8.38.

Invesco Mortgage Capital Stock Performance

Shares of Invesco Mortgage Capital stock opened at $7.21 on Friday. The stock has a market cap of $776.08 million, a P/E ratio of 4.87 and a beta of 1.62. The stock's fifty day moving average is $7.61 and its 200 day moving average is $7.94. Invesco Mortgage Capital has a one year low of $7.05 and a one year high of $9.50.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.50 EPS for the quarter, hitting analysts' consensus estimates of $0.50. Invesco Mortgage Capital had a return on equity of 26.48% and a net margin of 38.01%.The business had revenue of $30.10 million during the quarter, compared to analysts' expectations of $46.48 million. Analysts predict that Invesco Mortgage Capital will post 1.97 EPS for the current year.

Institutional Trading of Invesco Mortgage Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of Invesco Mortgage Capital by 190.1% during the first quarter. Bank of America Corp DE now owns 410,787 shares of the real estate investment trust's stock valued at $3,319,000 after purchasing an additional 269,195 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Invesco Mortgage Capital in the second quarter worth about $69,562,000. Odyssean LLC lifted its position in shares of Invesco Mortgage Capital by 144.9% in the second quarter. Odyssean LLC now owns 374,410 shares of the real estate investment trust's stock worth $2,958,000 after buying an additional 221,498 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Invesco Mortgage Capital by 42.4% during the first quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust's stock valued at $5,471,000 after buying an additional 201,500 shares during the last quarter. Finally, UBS Group AG boosted its stake in Invesco Mortgage Capital by 68.8% during the fourth quarter. UBS Group AG now owns 1,094,468 shares of the real estate investment trust's stock valued at $9,204,000 after buying an additional 446,017 shares during the last quarter. 40.54% of the stock is currently owned by institutional investors.

About Invesco Mortgage Capital

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source