Invesco Mortgage Capital (NYSE:IVR) downgraded to “Sell” at Zacks Investment Research

Invesco Mortgage Capital (NYSE: RVI – Get a rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Invesco Mortgage Capital Inc. is a real estate investment trust focused on financing and servicing residential and commercial mortgage-backed securities and mortgages. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Institutional (NA), Inc., a subsidiary of Invesco Ltd., a leading independent global investment management firm.The firm’s objective is to provide its investors with attractive risk-adjusted returns on the term, primarily through dividends and secondarily through capital appreciation.”

Shares of NYSE IVR opened at $2.18 on Monday. Invesco Mortgage Capital has a 52-week minimum of $2.04 and a 52-week maximum of $4.60. The company has a fifty-day moving average of $2.66 and a 200-day moving average of $2.96. The stock has a market capitalization of $719.13 million, a PE ratio of -4.45 and a beta of 1.22.

Invesco Mortgage Capital (NYSE: RVI – Get a rating) last announced its quarterly results on Wednesday, February 16. The real estate investment trust reported earnings per share of $0.10 for the quarter, meeting analyst consensus estimates of $0.10. Invesco Mortgage Capital posted a negative net margin of 53.19% and a positive return on equity of 16.15%. In the same quarter a year earlier, the company posted earnings per share of $0.10. On average, sell-side analysts expect Invesco Mortgage Capital to post earnings per share of 0.42 for the current fiscal year.

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In related news, the President Kevin M. Collins purchased 9,000 shares of the company in a trade dated Wednesday, December 1. The shares were acquired at an average price of $2.96 per share, for a total transaction of $26,640.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Insiders hold 0.18% of the company’s shares.

Several institutional investors have recently bought and sold shares of IVR. BlackRock Inc. increased its holdings in Invesco Mortgage Capital by 5.9% during the third quarter. BlackRock Inc. now owns 52,209,154 shares of the real estate investment trust worth $164,460,000 after purchasing an additional 2,926,436 shares last quarter. State Street Corp raised its position in Invesco Mortgage Capital shares by 16.0% in the fourth quarter. State Street Corp now owns 10,416,041 shares of the real estate investment trust worth $28,957,000 after acquiring an additional 1,434,041 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Invesco Mortgage Capital shares by 225.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,411,119 shares of the real estate investment trust valued at $20,603,000 after acquiring an additional 5,130,724 shares in the last quarter. Geode Capital Management LLC increased its position in Invesco Mortgage Capital shares by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 5,129,473 shares of the real estate investment trust worth $14,259,000 after acquiring an additional 218,667 shares last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Invesco Mortgage Capital shares by 18.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,589,751 shares of the real estate investment trust worth $12,760,000 after acquiring an additional 724,058 shares last quarter. Institutional investors and hedge funds own 54.54% of the company’s shares.

About Invesco Mortgage Capital (Get a rating)

Invesco Mortgage Capital, Inc. is a holding company that invests in, finances and manages residential and commercial mortgage-backed securities and mortgage loans. The Company primarily invests in the following: Residential Mortgage Backed Securities (RMBS), Commercial Mortgage Backed Securities (CMBS), Non-Agency RMBS, Non-Agency CMBS, Credit Risk Transfer Securities which are debentures issued by government-sponsored enterprises, residential and commercial mortgages, and other real estate-related financing arrangements.

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