BlackRock Inc. Takes Position in Invesco Mortgage Capital Inc $IVR

Key Points

• BlackRock acquired 8.8 million shares of Invesco Mortgage Capital in the second quarter, worth approximately $69.6 million and representing a 9.49% stake. Institutional investors collectively own 40.54% of IVR.
• Analyst sentiment is mixed but leans neutral: IVR has a consensus “Hold” rating and an average price target of $8.38, with recent ratings ranging from “Strong Sell” to “Hold.”
• IVR reported quarterly EPS of $0.50, matching estimates, while revenue of $30.1 million fell short of the $46.5 million consensus forecast. The company declared a monthly $0.12 dividend, implying a roughly 19.6% annualized yield.

BlackRock Inc. bought a new position in shares of Invesco Mortgage Capital Inc (NYSE:IVR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,805,376 shares of the real estate investment trust's stock, valued at approximately $69,562,000. BlackRock Inc. owned approximately 9.49% of Invesco Mortgage Capital at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IVR. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco Mortgage Capital by 3,282.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,044 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 2,954 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Invesco Mortgage Capital during the fourth quarter worth $33,000. Comerica Bank grew its position in Invesco Mortgage Capital by 1,722.1% in the third quarter. Comerica Bank now owns 5,120 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 4,839 shares in the last quarter. Caption Management LLC bought a new position in Invesco Mortgage Capital in the fourth quarter valued at $43,000. Finally, BNP Paribas Financial Markets increased its stake in Invesco Mortgage Capital by 83.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,599 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 2,548 shares during the last quarter. Institutional investors and hedge funds own 40.54% of the company's stock.

Analyst Upgrades and Downgrades

IVR has been the subject of several recent research reports. UBS Group set a $7.75 price target on Invesco Mortgage Capital and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Zacks Research lowered Invesco Mortgage Capital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 26th. Wall Street Zen cut Invesco Mortgage Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised Invesco Mortgage Capital from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. One investment 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. According to MarketBeat.com, Invesco Mortgage Capital currently has a consensus rating of "Hold" and a consensus target price of $8.38.

Invesco Mortgage Capital Stock Performance

NYSE:IVR opened at $7.35 on Monday. The company has a market cap of $791.15 million, a price-to-earnings ratio of 4.97 and a beta of 1.60. Invesco Mortgage Capital Inc has a fifty-two week low of $7.10 and a fifty-two week high of $9.50. The stock has a fifty day moving average price of $7.67 and a 200-day moving average price of $7.99.

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

Invesco Mortgage Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be given a $0.12 dividend. This represents a c) annualized dividend and a yield of 19.6%. The ex-dividend date is Tuesday, August 25th. Invesco Mortgage Capital's dividend payout ratio is 97.30%.

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.

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