Credit Suisse analyst Douglas Harter maintained a Sell rating on Invesco Mortgage (IVR) yesterday and set a price target of $2.50. The company’s shares closed last Friday at $3.13, close to its 52-week low of $1.82.
According to TipRanks.com, Harter is a 5-star analyst with an average return of 10.7% and a 65.4% success rate. Harter covers the Financial sector, focusing on stocks such as Ellington Residential Mortgage, Arlington Asset Investment, and ARMOUR Residential REIT.
Invesco Mortgage has an analyst consensus of Strong Sell, with a price target consensus of $2.50.
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Based on Invesco Mortgage’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.62 billion. In comparison, last year the company earned revenue of $150 million and had a net profit of $139 million.
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Invesco Mortgage Capital, Inc. is a holding company, which engages in investing, financing and managing residential and commercial mortgage-backed securities and mortgage loans. The firm 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 that are unsecured obligations issued by government-sponsored enterprises, residential and commercial mortgage loans, and other real estate-related financing arrangements. The company was founded on June 5, 2008 and is headquartered in Atlanta, GA.
