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Top Buys by Directors: Lockhart's $988K Bet on IVR

By Dividend Channel Staff, Wednesday, May 16, 11:07 AM ET
Play Video: One Reason For Insiders to Buy

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The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $988K by Dennis P. Lockhart, Director at Invesco Mortgage Capital Inc (NYSE:IVR).

Lockhart bets big on IVR:

Purchased Insider Title Shares Price/Share Value
02/27/2018 Dennis P. Lockhart Director 61,750 $16.00 $988,000.00

Lockhart's average cost works out to $16.00/share. In trading on Wednesday, bargain hunters could buy shares of Invesco Mortgage Capital Inc (NYSE:IVR) and achieve a cost basis lower than Lockhart, with shares changing hands as low as $15.94 per share. It should be noted that Lockhart has collected $0.42/share in dividends since the time of their purchase, so they are currently up 2.2% on their purchase from a total return basis. Shares of Invesco Mortgage Capital Inc were changing hands at $15.94 at last check, trading down about 0.5% on Wednesday. The chart below shows the one year performance of IVR shares, versus its 200 day moving average:

Invesco Mortgage Capital Inc Chart

Looking at the chart above, IVR's low point in its 52 week range is $15.15 per share, with $18.86 as the 52 week high point that compares with a last trade of $15.94.

The current annualized dividend paid by Invesco Mortgage Capital Inc is $1.68/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 06/04/2018. Below is a long-term dividend history chart for IVR, which can be of good help in judging whether the most recent dividend with approx. 10.5% annualized yield is likely to continue.

According to the ETF Finder at ETF Channel, IVR makes up 4.32% of the Mortgage REIT Income ETF (AMEX:MORT) which is trading lower by about 0.1% on the day Wednesday.

See what other ETFs contain IVR
See what other stocks are held by MORT

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This Article's Word Cloud:   Capital   Dennis   Director   Insider   Invesco   Lockhart   MORT   Mortgage   NYSE   Seven   Shares   Wednesday   about   annualized   average   basis   buys   changing   chart   company   cost   currently   directors   dividend   escape   fillColor   hands   last   lower   make   maybe   most   other   paid   period   point   purchase   recent   share   shares   stock   take   that   their   they   total   trading   week   which   with

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