INVESCO MORTGAGE PRF.B

Invesco Mortgage reported a 7.3% decline in book value in Q1 2026 to $8.08 per share and a net loss of $0.28 per common share. Distributable earnings were $0.55 per share, revenue amounted to $27.05 million and fell well short of expectations. The company expanded its agency RMBS portfolio by 19.1% to $6.3 billion, hedged roughly 96% of its funding costs, and kept the quarterly dividend at $0.36 while switching to monthly payouts. Management cited market volatility and higher interest-rate volatility as the main drivers of the valuation pressure but noted a slight recovery in portfolio valuations since quarter-end. » More on de.investing.com

Invesco Mortgage Capital reported distributable earnings of $0.56 per common share for Q4 2025 (vs. $0.58 in the prior quarter), missing analyst expectations. Book value rose to $8.72 per share and the quarterly dividend was raised from $0.34 to $0.36 (annualized yield 17.1%). Revenue significantly beat estimates ($56.06 million vs. $36.43 million expected), the portfolio stood at about $6.3 billion with 84.6% in agency RMBS, and leverage was 7.0x. Management expressed optimism for agency mortgages given lower interest-rate volatility. » More on de.investing.com

Invesco Mortgage recorded net income per common share of $0.74 in Q3 2025 versus a loss of $0.40 in the prior quarter, an increased book value of $8.41 and a recovered total return of 8.7%. Revenue fell to $17.61 million, well below expectations, while the dividend was maintained at $0.34 per share (annualized yield 18.0%). The investment portfolio grew to $5.7 billion with 83.1% in agency RMBS (RMBS portfolio +13.2%, net purchases $647 million); leverage rose slightly to 6.7x. Management hedges 85% of funding costs with interest-rate swaps and futures and sees potential upside from expected Fed rate cuts, but flags risks from the revenue miss, higher leverage and interest-rate sensitivity. » More on de.investing.com