Invesco Mortgage Capital (NYSE:IVR) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Invesco Mortgage Capital from “strong sell” to “hold,” while Wall Street Zen also moved its rating to “hold.” Analysts’ average rating is “Hold,” with an average price target of $8.25.
• IVR opened at $7.51, within a 12-month range of $7.10 to $9.50. The company reported quarterly earnings of $0.55 per share, matching consensus, but revenue of negative $15.01 million fell short of the $39.80 million estimate.
• Institutional ownership stands at 40.54%, with several investors increasing their positions, including Bank of America, which boosted its holdings by 190.1%, and Renaissance Technologies, which increased its position by 42.4%.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also weighed in on IVR. Wall Street Zen upgraded Invesco Mortgage Capital from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings lowered Invesco Mortgage Capital from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 15th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Invesco Mortgage Capital has an average rating of "Hold" and an average target price of $8.25.

Invesco Mortgage Capital Price Performance

NYSE IVR opened at $7.51 on Monday. Invesco Mortgage Capital has a 12 month low of $7.10 and a 12 month high of $9.50. The firm has a market capitalization of $697.56 million, a PE ratio of 10.16 and a beta of 1.59. The company's 50 day simple moving average is $7.89 and its 200 day simple moving average is $8.23.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.55 earnings per share for the quarter, hitting analysts' consensus estimates of $0.55. The firm had revenue of ($15.01) million during the quarter, compared to the consensus estimate of $39.80 million. Invesco Mortgage Capital had a return on equity of 28.12% and a net margin of 20.50%. Sell-side analysts anticipate that Invesco Mortgage Capital will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IVR. 180 Wealth Advisors LLC grew its stake in Invesco Mortgage Capital by 7.4% during the 2nd quarter. 180 Wealth Advisors LLC now owns 24,597 shares of the real estate investment trust's stock valued at $194,000 after acquiring an additional 1,690 shares in the last quarter. PVG Asset Management Corp boosted its holdings in shares of Invesco Mortgage Capital by 3.9% during the second quarter. PVG Asset Management Corp now owns 133,630 shares of the real estate investment trust's stock worth $1,056,000 after purchasing an additional 4,970 shares during the period. Bank of America Corp DE boosted its holdings in shares of 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 purchasing an additional 269,195 shares during the period. Quantinno Capital Management LP grew its position in Invesco Mortgage Capital by 24.0% during the first quarter. Quantinno Capital Management LP now owns 45,497 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 8,805 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Invesco Mortgage Capital by 42.4% during the first quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust's stock valued at $5,471,000 after purchasing an additional 201,500 shares in the last quarter. 40.54% of the stock is currently 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.

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