Prudential Financial Inc. reduced its stake in shares of Invesco Mortgage Capital (NYSE:IVR) by 45.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,173,157 shares of the real estate investment trust’s stock after selling 986,935 shares during the period. Prudential Financial Inc. owned approximately 1.05% of Invesco Mortgage Capital worth $19,216,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in Invesco Mortgage Capital during the 4th quarter worth approximately $177,000. First Allied Advisory Services Inc. acquired a new stake in Invesco Mortgage Capital during the 4th quarter worth approximately $203,000. Parametrica Management Ltd acquired a new stake in Invesco Mortgage Capital during the 1st quarter worth approximately $200,000. Xact Kapitalforvaltning AB acquired a new stake in Invesco Mortgage Capital during the 4th quarter worth approximately $248,000. Finally, Ramsey Quantitative Systems acquired a new stake in Invesco Mortgage Capital during the 4th quarter worth approximately $251,000. Hedge funds and other institutional investors own 67.17% of the company’s stock.
Invesco Mortgage Capital opened at $15.97 on Monday, according to MarketBeat. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.01 and a current ratio of 0.01. Invesco Mortgage Capital has a 12-month low of $15.15 and a 12-month high of $18.86. The company has a market capitalization of $1.78 billion, a PE ratio of 9.02 and a beta of 0.61.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 26th. Stockholders of record on Tuesday, March 27th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, March 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.52%.
In other Invesco Mortgage Capital news, CFO Richard Lee Jr. Phegley acquired 1,750 shares of the stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $15.49 per share, for a total transaction of $27,107.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis P. Lockhart acquired 61,750 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $988,000.00. Following the completion of the acquisition, the director now directly owns 33,427 shares of the company’s stock, valued at $534,832. The disclosure for this purchase can be found here. Insiders bought 65,000 shares of company stock worth $1,039,273 over the last quarter. 0.26% of the stock is owned by corporate insiders.
IVR has been the topic of several research analyst reports. Credit Suisse Group downgraded shares of Invesco Mortgage Capital from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $17.74 to $18.00 in a report on Thursday, January 25th. Barclays restated a “hold” rating and set a $16.00 target price on shares of Invesco Mortgage Capital in a report on Monday, May 7th. Finally, ValuEngine downgraded shares of Invesco Mortgage Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Invesco Mortgage Capital has an average rating of “Hold” and a consensus price target of $17.42.
Invesco Mortgage Capital Company Profile
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 mortgage loans. It invests in residential mortgage-backed securities (RMBS) that are guaranteed by the U.S. government agency or a federally chartered corporation; RMBS that are not issued or guaranteed by the U.S.
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