Invesco Mortgage Capital (NYSE:IVR) Shares Down 2.8% – Here’s Why

Invesco Mortgage Capital Inc. (NYSE:IVR)’s stock price dropped 2.8% during mid-day trading on Wednesday . The stock traded as low as $7.80 and last traded at $7.82. Approximately 1,037,748 shares changed hands during trading, a decline of 36% from the average daily volume of 1,614,130 shares. The stock had previously closed at $8.04.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Invesco Mortgage Capital in a report on Thursday, January 23rd.

Invesco Mortgage Capital Trading Down 1.1 %

The company’s fifty day simple moving average is $8.54 and its 200 day simple moving average is $8.47. The stock has a market capitalization of $518.92 million, a P/E ratio of 12.23 and a beta of 1.93.

Invesco Mortgage Capital (NYSE:IVR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.21). The business had revenue of $13.68 million for the quarter, compared to analysts’ expectations of $50.18 million. Invesco Mortgage Capital had a return on equity of 34.61% and a net margin of 20.90%. Equities research analysts predict that Invesco Mortgage Capital Inc. will post 2.49 earnings per share for the current year.

Invesco Mortgage Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.36 dividend on an annualized basis and a yield of 17.11%. Invesco Mortgage Capital’s dividend payout ratio (DPR) is currently 209.23%.

Institutional Investors Weigh In On Invesco Mortgage Capital

A number of large investors have recently added to or reduced their stakes in IVR. PNC Financial Services Group Inc. grew its stake in shares of Invesco Mortgage Capital by 427.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,638 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 3,758 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Invesco Mortgage Capital in the 4th quarter worth approximately $50,000. McIlrath & Eck LLC bought a new position in shares of Invesco Mortgage Capital during the third quarter valued at approximately $62,000. Russell Investments Group Ltd. lifted its stake in Invesco Mortgage Capital by 55.6% in the fourth quarter. Russell Investments Group Ltd. now owns 9,154 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 3,272 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Invesco Mortgage Capital in the fourth quarter valued at $81,000. Institutional investors own 40.54% of the company’s stock.

Invesco Mortgage Capital Company Profile

Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that invests, finances, and manages mortgage-backed securities and other mortgage-related assets in the United States. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S.