Is Invesco Mortgage Capital Set to Fall by 33%?
Shares of Invesco Mortgage Capital (NYSE: IVR) could be about to lose one-third of their value, if a new evaluation of the company proves accurate. Bank of America (NYSE: BAC) Securities has initiated coverage of the real estate investment trust with a price target of only $2.50, well down from its current level of $3.74, and an underperform recommendation.
Invesco is a mortgage REIT (mREIT), meaning that instead of investing directly in real estate, its assets consist of the mortgages that pay for those properties.
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Source Fool.com
