Investment analysts at BofA Securities assumed coverage on shares of Invesco Mortgage Capital (NYSE:IVR) in a report released on Tuesday, Briefing.com Automated Import reports. The brokerage set an "underperform" rating and a $2.50 price target on the real estate investment trust's stock. BofA Securities' target price would indicate a potential downside of 29.97% from the company's current price.
Several other brokerages have also recently issued reports on IVR. ValuEngine upgraded Invesco Mortgage Capital from a "strong sell" rating to a "sell" rating in a research note on Monday, June 1st. TheStreet cut Invesco Mortgage Capital from a "c-" rating to a "d" rating in a research note on Wednesday, June 24th. Bank of America assumed coverage on Invesco Mortgage Capital in a report on Tuesday. They set an "underperform" rating for the company. Barclays lowered Invesco Mortgage Capital from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $3.00 to $2.00 in a report on Wednesday, May 27th. Finally, Credit Suisse Group reaffirmed a "sell" rating and set a $2.50 target price on shares of Invesco Mortgage Capital in a report on Monday, June 22nd. Five equities research analysts have rated the stock with a sell rating, The stock has an average rating of "Sell" and an average price target of $2.33.
NYSE:IVR opened at $3.57 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.02 and a current ratio of 0.02. Invesco Mortgage Capital has a one year low of $1.56 and a one year high of $15.73. The business's 50-day simple moving average is $3.62 and its 200 day simple moving average is $10.08. The stock has a market cap of $605.43 million, a price-to-earnings ratio of -0.40 and a beta of 1.42.
Several large investors have recently modified their holdings of IVR. BlackRock Inc. lifted its stake in Invesco Mortgage Capital by 11.1% during the first quarter. BlackRock Inc. now owns 29,682,792 shares of the real estate investment trust's stock worth $101,220,000 after purchasing an additional 2,957,089 shares during the period. JPMorgan Chase & Co. lifted its stake in Invesco Mortgage Capital by 5.0% during the first quarter. JPMorgan Chase & Co. now owns 851,602 shares of the real estate investment trust's stock worth $2,904,000 after purchasing an additional 40,920 shares during the period. Martingale Asset Management L P lifted its stake in Invesco Mortgage Capital by 39.6% during the first quarter. Martingale Asset Management L P now owns 352,510 shares of the real estate investment trust's stock worth $1,203,000 after purchasing an additional 99,980 shares during the period. Commonwealth Equity Services LLC lifted its stake in Invesco Mortgage Capital by 33.9% during the first quarter. Commonwealth Equity Services LLC now owns 45,351 shares of the real estate investment trust's stock worth $154,000 after purchasing an additional 11,481 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Invesco Mortgage Capital by 474.9% in the first quarter. Deutsche Bank AG now owns 490,298 shares of the real estate investment trust's stock valued at $1,673,000 after purchasing an additional 405,010 shares in the last quarter. 65.11% of the stock is currently owned by institutional investors.
About Invesco Mortgage Capital
Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential and commercial mortgage-backed securities, and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S.
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7 Gun Stocks to Buy During the Coronavirus Pandemic
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