Invesco Mortgage Capital (NYSE:IVR) Hits New 1-Year Low - Here's What Happened

Key Points

• Invesco Mortgage Capital fell to a new 52-week low of $6.52, down from its previous close of $6.67. The stock trades below its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious, with an overall “Hold” rating and an average price target of $8.38. Recent recommendations range from “Buy” to “Strong Sell.”
• The company announced a monthly dividend of $0.12 per share, representing an annualized yield of about 22%; however, its payout ratio is high at 97.3%.

Invesco Mortgage Capital Inc (NYSE:IVR - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $6.52 and last traded at $6.5350, with a volume of 3305619 shares traded. The stock had previously closed at $6.67.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IVR. Wall Street Zen upgraded Invesco Mortgage Capital from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Zacks Research lowered shares of Invesco Mortgage Capital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 26th. UBS Group set a $7.75 target price on shares of Invesco Mortgage Capital and gave the company a "neutral" rating in a report on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Invesco Mortgage Capital from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.38.

Invesco Mortgage Capital Stock Down 2.0%

The firm has a market cap of $703.43 million, a PE ratio of 4.42 and a beta of 1.62. The firm's fifty day simple moving average is $7.47 and its two-hundred day simple moving average is $7.85.

Invesco Mortgage Capital (NYSE:IVR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.50. Invesco Mortgage Capital had a net margin of 38.01% and a return on equity of 26.48%. The firm had revenue of $30.10 million during the quarter, compared to analysts' expectations of $46.48 million. As a group, analysts anticipate that Invesco Mortgage Capital Inc will post 1.97 earnings per share for the current fiscal year.

Invesco Mortgage Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 28th will be paid a dividend of $0.12 per share. This represents a c) annualized dividend and a yield of 22.0%. The ex-dividend date of this dividend is Monday, September 28th. Invesco Mortgage Capital's dividend payout ratio (DPR) is 97.30%.

Institutional Investors Weigh In On Invesco Mortgage Capital

Several institutional investors and hedge funds have recently modified their holdings of IVR. Bank of New York Mellon Corp purchased a new stake in Invesco Mortgage Capital in the second quarter worth $2,087,000. Bank of America Corp DE boosted its stake 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 valued at $3,319,000 after purchasing an additional 269,195 shares during the period. BlackRock Inc. bought a new position in shares of Invesco Mortgage Capital in the second quarter worth about $69,562,000. Odyssean LLC grew its holdings in shares of Invesco Mortgage Capital by 144.9% in the second quarter. Odyssean LLC now owns 374,410 shares of the real estate investment trust's stock worth $2,958,000 after purchasing an additional 221,498 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Invesco Mortgage Capital by 42.4% in the 1st quarter. Renaissance Technologies LLC now owns 677,100 shares of the real estate investment trust's stock worth $5,471,000 after buying an additional 201,500 shares during the period. Institutional investors own 40.54% of the company's stock.

Invesco Mortgage Capital Company Profile

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.

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.