Invesco Mortgage Capital (NYSE:IVR) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Invesco Mortgage Capital to “Sell” from “Hold,” while Weiss Ratings also issued a sell rating. MarketBeat’s overall analyst consensus remains “Hold,” with an average price target of $8.25.
• IVR shares opened at $7.49, near the lower end of their 52-week range of $7.10 to $9.50. The company reported quarterly EPS of $0.50, matching estimates, but revenue of $30.10 million fell short of the $46.48 million forecast.
• Institutional investors own approximately 40.54% of the stock; BlackRock established a position worth about $69.6 million, while Vanguard, Invesco, Geode Capital and Mirae Asset also increased their holdings.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other brokerages have also recently weighed in on IVR. Weiss Ratings cut shares of Invesco Mortgage Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 15th. Zacks Research raised shares of Invesco Mortgage Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.25.

Invesco Mortgage Capital Price Performance

IVR stock opened at $7.49 on Friday. The stock has a market capitalization of $805.69 million, a P/E ratio of 5.06 and a beta of 1.60. Invesco Mortgage Capital has a fifty-two week low of $7.10 and a fifty-two week high of $9.50. The business has a 50-day moving average of $7.81 and a 200-day moving average of $8.16.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.50. The business had revenue of $30.10 million for the quarter, compared to analyst estimates of $46.48 million. Invesco Mortgage Capital had a return on equity of 26.48% and a net margin of 38.01%. Equities analysts expect that Invesco Mortgage Capital will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Invesco Mortgage Capital during the 2nd quarter worth approximately $69,562,000. Vanguard Group Inc. boosted its holdings in shares of Invesco Mortgage Capital by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,727,534 shares of the real estate investment trust's stock valued at $28,180,000 after buying an additional 50,548 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Invesco Mortgage Capital by 8.5% in the 4th quarter. Invesco Ltd. now owns 2,555,890 shares of the real estate investment trust's stock valued at $21,495,000 after buying an additional 199,259 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Invesco Mortgage Capital by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,708,181 shares of the real estate investment trust's stock valued at $14,369,000 after buying an additional 101,303 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Invesco Mortgage Capital by 7.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,544,194 shares of the real estate investment trust's stock valued at $11,674,000 after buying an additional 113,608 shares in the last quarter. 40.54% of the stock is owned by institutional investors and hedge funds.

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.

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