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Invesco Mortgage Capital Inc. (NYSE:IVR – Get Rating) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 4,060,000 shares, a drop of 10.6% from the November 15th total of 4,540,000 shares. Approximately 11.5% of the company’s stock are short sold. Based on an average daily trading volume, of 950,600 shares, the days-to-cover ratio is currently 4.3 days.
Analysts Set New Price Targets
Several equities analysts recently weighed in on IVR shares. StockNews.com started coverage on shares of Invesco Mortgage Capital in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Credit Suisse Group decreased their target price on shares of Invesco Mortgage Capital to $12.00 in a research note on Thursday, October 13th.
Invesco Mortgage Capital Price Performance
Shares of Invesco Mortgage Capital stock opened at $12.66 on Friday. The business has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $13.96. Invesco Mortgage Capital has a 1 year low of $9.60 and a 1 year high of $30.20. The company has a market capitalization of $447.56 million, a price-to-earnings ratio of -0.80 and a beta of 1.56.
Invesco Mortgage Capital Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 27th. Shareholders of record on Tuesday, October 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 20.54%. The ex-dividend date of this dividend was Friday, October 7th. Invesco Mortgage Capital’s dividend payout ratio is -16.46%.
Institutional Investors Weigh In On Invesco Mortgage Capital
Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new stake in Invesco Mortgage Capital during the 2nd quarter valued at $25,000. Russell Investments Group Ltd. acquired a new stake in Invesco Mortgage Capital during the 3rd quarter valued at $25,000. KBC Group NV acquired a new stake in Invesco Mortgage Capital during the 2nd quarter valued at $40,000. Royal Bank of Canada lifted its holdings in shares of Invesco Mortgage Capital by 1,879.1% during the third quarter. Royal Bank of Canada now owns 3,978 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,777 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Invesco Mortgage Capital during the second quarter worth $67,000. Institutional investors and hedge funds own 61.77% of the company’s stock.
Invesco Mortgage Capital Company Profile
(Get Rating)
Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) that are guaranteed by a U.S.
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