Wolverine Asset Management LLC Sells 409,522 Shares of Invesco Mortgage Capital Inc $IVR

Key Points

• Wolverine Asset Management sold 409,522 shares of Invesco Mortgage Capital in Q4, trimming its stake by 34.4% to 781,547 shares (about 1.10% of the company) worth $6.57 million.
• Invesco declared a monthly dividend of $0.12 (paid May 14), implying a 17.3% yield but a very high payout ratio of 194.59%, which raises sustainability concerns.
• Invesco reported last-quarter EPS of $0.55 that met estimates while revenue showed $(15.01) million versus $39.8 million expected, and analysts maintain a consensus “Hold” rating with a $8.25 price target near the current share price.

Wolverine Asset Management LLC lowered its holdings in shares of Invesco Mortgage Capital Inc (NYSE:IVR - Free Report) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,547 shares of the real estate investment trust's stock after selling 409,522 shares during the period. Wolverine Asset Management LLC owned approximately 1.10% of Invesco Mortgage Capital worth $6,573,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. 180 Wealth Advisors LLC boosted its stake in Invesco Mortgage Capital by 7.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 20,575 shares of the real estate investment trust's stock worth $173,000 after acquiring an additional 1,486 shares in the last quarter. Range Financial Group LLC raised its holdings in Invesco Mortgage Capital by 6.8% in the fourth quarter. Range Financial Group LLC now owns 28,083 shares of the real estate investment trust's stock worth $236,000 after buying an additional 1,786 shares during the last quarter. PFG Investments LLC raised its holdings in Invesco Mortgage Capital by 3.1% in the third quarter. PFG Investments LLC now owns 64,310 shares of the real estate investment trust's stock worth $486,000 after buying an additional 1,953 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Invesco Mortgage Capital by 16.8% in the second quarter. Russell Investments Group Ltd. now owns 14,000 shares of the real estate investment trust's stock worth $110,000 after buying an additional 2,011 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Invesco Mortgage Capital by 83.5% in the second quarter. BNP Paribas Financial Markets now owns 5,599 shares of the real estate investment trust's stock worth $44,000 after buying an additional 2,548 shares during the last quarter. Institutional investors own 40.54% of the company's stock.

Invesco Mortgage Capital Stock Down 0.1%

IVR opened at $8.33 on Monday. The firm has a 50 day moving average price of $8.20 and a 200-day moving average price of $8.25. Invesco Mortgage Capital Inc has a twelve month low of $7.10 and a twelve month high of $9.50. The stock has a market capitalization of $723.83 million, a price-to-earnings ratio of 11.25 and a beta of 1.64.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Invesco Mortgage Capital had a net margin of 20.50% and a return on equity of 28.12%. The firm had revenue of ($15.01) million during the quarter, compared to analysts' expectations of $39.80 million. As a group, analysts expect that Invesco Mortgage Capital Inc will post 2.25 earnings per share for the current year.

Invesco Mortgage Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 17.3%. The ex-dividend date of this dividend is Monday, April 27th. Invesco Mortgage Capital's payout ratio is presently 194.59%.

Analysts Set New Price Targets

Several research analysts have issued reports on IVR shares. Zacks Research cut shares of Invesco Mortgage Capital from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 27th. Wall Street Zen cut shares of Invesco Mortgage Capital from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Invesco Mortgage Capital in a report on Friday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Invesco Mortgage Capital has a consensus rating of "Hold" and a consensus price target of $8.25.

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.

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