Invesco Mortgage Capital Inc. (NYSE:IVR – Get Free Report) announced a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Stockholders of record on Monday, October 7th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, October 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.52%. The ex-dividend date of this dividend is Monday, October 7th.
Invesco Mortgage Capital has decreased its dividend payment by an average of 23.4% per year over the last three years. Invesco Mortgage Capital has a dividend payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Invesco Mortgage Capital to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 60.8%.
Invesco Mortgage Capital Stock Up 1.3 %
IVR opened at $9.13 on Thursday. The business’s fifty day simple moving average is $8.87 and its 200 day simple moving average is $9.04. Invesco Mortgage Capital has a 52 week low of $6.34 and a 52 week high of $10.20. The stock has a market cap of $445.78 million, a PE ratio of -13.04 and a beta of 1.89.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Invesco Mortgage Capital from a “sell” rating to a “hold” rating in a report on Thursday, August 29th. JMP Securities restated a “market perform” rating on shares of Invesco Mortgage Capital in a research report on Wednesday, August 28th. Finally, Janney Montgomery Scott started coverage on Invesco Mortgage Capital in a research note on Thursday, June 6th. They set a “buy” rating and a $10.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Invesco Mortgage Capital has an average rating of “Hold” and an average target price of $9.00.
Check Out Our Latest Stock Analysis on IVR
About Invesco Mortgage Capital
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.
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