State Street Corp Grows Holdings in Invesco Mortgage Capital Inc $IVR

Key Points

• State Street increased its Invesco Mortgage Capital stake by 31.6% in the second quarter, reaching 1.85 million shares valued at approximately $14.8 million. Institutional investors own 40.54% of IVR.
• Analyst sentiment remains cautious: IVR has an average “Hold” rating and an average price target of $8.38, while several firms recently downgraded the stock, including Zacks Research’s “Strong Sell” rating.
• IVR opened at $6.42, near its 12-month low, despite reporting adjusted earnings in line with estimates. The company declared a monthly dividend of $0.12 per share, implying a 22.4% annualized yield.

State Street Corp increased its holdings in Invesco Mortgage Capital Inc (NYSE:IVR - Free Report) by 31.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,849,062 shares of the real estate investment trust's stock after purchasing an additional 443,882 shares during the quarter. State Street Corp owned 1.72% of Invesco Mortgage Capital worth $14,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IVR. The Manufacturers Life Insurance Company boosted its position in Invesco Mortgage Capital by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,223 shares of the real estate investment trust's stock valued at $168,000 after buying an additional 2,122 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Invesco Mortgage Capital during the second quarter worth about $727,000. Integrated Wealth Concepts LLC boosted its holdings 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 worth $104,000 after purchasing an additional 2,226 shares during the period. IFP Advisors Inc grew its stake in shares of Invesco Mortgage Capital by 1,697.8% in the second quarter. IFP Advisors Inc now owns 60,872 shares of the real estate investment trust's stock worth $481,000 after purchasing an additional 57,486 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Invesco Mortgage Capital by 36.0% in the second quarter. Squarepoint Ops LLC now owns 142,866 shares of the real estate investment trust's stock worth $1,129,000 after purchasing an additional 37,806 shares during the last quarter. 40.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Invesco Mortgage Capital Stock Up 0.5%

IVR stock opened at $6.42 on Friday. The business has a 50 day moving average of $7.23 and a 200 day moving average of $7.75. The firm has a market cap of $690.51 million, a PE ratio of 4.33 and a beta of 1.62. Invesco Mortgage Capital Inc has a twelve month low of $6.35 and a twelve month high of $9.50.

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 EPS for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $30.10 million for the quarter, compared to the consensus estimate of $46.48 million. Invesco Mortgage Capital had a return on equity of 26.48% and a net margin of 38.01%. On average, research analysts expect that Invesco Mortgage Capital Inc will post 1.97 earnings per share for the current fiscal year.

Invesco Mortgage Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $1.44 annualized dividend and a dividend yield of 22.4%. Invesco Mortgage Capital's dividend payout ratio (DPR) is 97.30%.

About Invesco Mortgage Capital

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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