Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Invesco Mortgage Capital shares dip Tuesday, ending two-day gain

EditorRachael Rajan
Published 12/06/2023, 08:57 AM
© Reuters.
IVR
-

NEW YORK - Shares of Invesco Mortgage Capital Inc (NYSE:IVR) saw a slight decline Tuesday, ending a two-day streak of advances. The stock fell by 0.48% to close at $8.28, contrasting with the day's mixed performance in the broader market, where the NASDAQ Composite Index edged up by 0.31% to 14,229.91, and the Dow Jones Industrial Average dropped by 0.22% to 36,124.56.

Invesco Mortgage Capital's movement comes as the stock remains well below its February peak of $15.56. Trading volume for IVR was notably higher than average, indicating increased investor attention.

The company's shares moved in a similar pattern to other firms in the sector, with AGNC Investment (NASDAQ:AGNC) Corp and MFA Financial (NYSE:MFA) Inc also experiencing downturns. Conversely, PennyMac managed a marginal gain amidst these varied market movements.

Investors are keeping a close eye on Invesco Mortgage Capital as it navigates through market fluctuations that have affected the entire mortgage real estate investment trust (REIT) industry.

InvestingPro Insights

Invesco Mortgage Capital Inc (NYSE:IVR) has been navigating a challenging market, as seen in the recent dip in its stock price. Despite the volatility, there are some promising indicators for the company. According to InvestingPro, revenue growth has been accelerating, with a notable increase of 102.86% over the last twelve months as of Q3 2023. This could suggest that the company's efforts to adapt and grow in a fluctuating market are bearing fruit.

Moreover, Invesco Mortgage Capital has managed to maintain dividend payments for 15 consecutive years, showcasing its commitment to returning value to shareholders. The current dividend yield stands at an impressive 19.32%, which is particularly attractive for income-focused investors. This is complemented by the InvestingPro Tip highlighting that the company is expected to be profitable this year, offering a glimmer of optimism amidst a period of price declines.

The company's market capitalization is currently at $401.25 million, with a price to book ratio of 0.82 as of the last twelve months of Q3 2023. These figures may attract investors looking for potentially undervalued opportunities in the mortgage REIT sector.

For those interested in a deeper analysis, InvestingPro offers additional insights, including 10 more InvestingPro Tips that could further inform investment decisions. A subscription to InvestingPro is now even more valuable with a special Cyber Monday sale, offering discounts of up to 60% off. Plus, use coupon code sfy23 to get an additional 10% off a 2-year InvestingPro+ subscription, unlocking even more expert financial guidance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.