Wall Street Zen Downgrades Invesco Mortgage Capital (NYSE:IVR) to Sell

Key Points

• Wall Street Zen downgraded Invesco Mortgage Capital (NYSE: IVR) from “hold” to “sell.” The stock’s overall analyst consensus remains “Hold,” with a consensus price target of $8.38.
• IVR shares opened at $6.42, near their 52-week low of $6.35 and below both the 50-day and 200-day moving averages. The company recently reported quarterly EPS of $0.50, in line with estimates, but revenue of $30.10 million fell short of the $46.48 million forecast.
• Institutional investors own approximately 40.54% of the stock, with BlackRock establishing a new position and State Street, Bank of America, and Odyssean increasing their holdings.

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

A number of other analysts have also recently commented on the stock. UBS Group set a $7.75 price target on shares of Invesco Mortgage Capital and gave the company a "neutral" rating in a research note on Wednesday, August 19th. Weiss Ratings downgraded shares of Invesco Mortgage Capital from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday. Finally, Zacks Research downgraded Invesco Mortgage Capital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.38.

Invesco Mortgage Capital Trading Up 0.5%

Shares of IVR opened at $6.42 on Friday. The stock has a market cap of $690.51 million, a PE ratio of 4.33 and a beta of 1.62. Invesco Mortgage Capital has a 1 year low of $6.35 and a 1 year high of $9.50. The stock has a 50 day simple moving average of $7.23 and a 200-day simple moving average of $7.75.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $30.10 million for the quarter, compared to analyst estimates of $46.48 million. On average, sell-side analysts forecast that Invesco Mortgage Capital will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco Mortgage Capital

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Invesco Mortgage Capital in the 2nd quarter valued at $69,562,000. State Street Corp increased its stake in Invesco Mortgage Capital by 31.6% in the second quarter. State Street Corp now owns 1,849,062 shares of the real estate investment trust's stock valued at $14,803,000 after purchasing an additional 443,882 shares during the last quarter. Bank of America Corp DE lifted its position in 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 worth $3,319,000 after buying an additional 269,195 shares during the period. Bank of New York Mellon Corp purchased a new position in Invesco Mortgage Capital during the second quarter worth about $2,087,000. Finally, Odyssean LLC lifted its position in Invesco Mortgage Capital by 144.9% during 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 during the period. 40.54% of the stock is currently owned by institutional investors.

Invesco Mortgage Capital Company Profile

Invesco Mortgage Capital Inc NYSE: IVR is a real estate investment trust that invests primarily in mortgage-related securities. Its portfolio has historically focused on residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises and government agencies, including securities backed by Fannie Mae, Freddie Mac and Ginnie Mae.

The company may also invest in other mortgage assets, including non-agency residential mortgage-backed securities, commercial mortgage-backed securities and mortgage loans.

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