BlackRock Inc. grew its stake in Invesco Mortgage Capital Inc (NYSE:IVR) by 63.1% during the fourth quarter, HoldingsChannel reports. The fund owned 17,609,663 shares of the real estate investment trust’s stock after purchasing an additional 6,810,380 shares during the quarter. BlackRock Inc. owned approximately 0.16% of Invesco Mortgage Capital worth $313,981,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Cipher Capital LP grew its stake in Invesco Mortgage Capital by 45.1% in the 3rd quarter. Cipher Capital LP now owns 330,514 shares of the real estate investment trust’s stock worth $5,662,000 after acquiring an additional 102,704 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Invesco Mortgage Capital by 4.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 784,020 shares of the real estate investment trust’s stock worth $13,431,000 after acquiring an additional 36,774 shares in the last quarter. Convergence Investment Partners LLC grew its stake in Invesco Mortgage Capital by 292.8% in the 4th quarter. Convergence Investment Partners LLC now owns 63,834 shares of the real estate investment trust’s stock worth $1,138,000 after acquiring an additional 47,582 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Invesco Mortgage Capital in the 4th quarter worth about $494,000. Finally, Louisiana State Employees Retirement System bought a new position in Invesco Mortgage Capital in the 4th quarter worth about $856,000. Institutional investors and hedge funds own 68.76% of the company’s stock.
In other news, CFO Richard Lee Jr. Phegley bought 1,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $15.49 per share, with a total value of $27,107.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis P. Lockhart bought 61,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $16.00 per share, with a total value of $988,000.00. Following the transaction, 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 a total of 65,000 shares of company stock valued at $1,039,273 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.
Invesco Mortgage Capital (NYSE:IVR) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. Invesco Mortgage Capital had a net margin of 56.83% and a return on equity of 9.56%. The firm had revenue of $93.04 million during the quarter, compared to analysts’ expectations of $71.20 million. During the same quarter in the prior year, the company earned $0.36 EPS. The company’s revenue was up 16.0% compared to the same quarter last year.
Separately, Credit Suisse Group cut shares of Invesco Mortgage Capital from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $17.74 to $18.00 in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $18.08.
Invesco Mortgage Capital Company Profile
Invesco Mortgage Capital Inc is a holding company, which conducts its businesses through IAS Operating Partnership LP (the Operating Partnership) and subsidiaries. The Company’s objective is to provide risk-adjusted returns to its investors through dividends and through capital appreciation. It invests in residential mortgage-backed securities that are guaranteed by the United States Government agency, such as the Government National Mortgage Association or a federally chartered corporation, such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (collectively Agency RMBS); RMBS that are not guaranteed by the United States Government agency; Credit risk transfer securities that are unsecured obligations issued by government-sponsored enterprises; commercial mortgage-backed securities; residential and commercial mortgage loans, and other real estate-related financing arrangements.
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