Jefferies Downgrades Invesco Mortgage Capital (IVR) to Hold

Jefferies downgraded Invesco Mortgage Capital (NYSE: IVR) to Hold with a price target of $14 (down from $16.50).

The firm comments, "Recent events at IVR consist of significant consecutive dividend cuts, continued signs of portfolio weakness, and book value weakness. We expect this weakness to continue in the current low rate environment as the company's interest rate derivatives book negatively impacts performance. Based on these factors, we are reducing our rating on shares of IVR from Buy to Hold"

For an analyst ratings summary and ratings history on Invesco Mortgage Capital click here. For more ratings news on Invesco Mortgage Capital click here.

Shares of Invesco Mortgage Capital closed at $13.98 yesterday.

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