Invesco Mortgage Capital Reports Q2 Economic Return of 3.8% Amid Portfolio Growth and Strategic Investments
Invesco Mortgage Capital (NYSE:IVR) reported a 3.8% economic return for the second quarter of 2026, supported by $0.12-per-share monthly dividends despite a slight decline in book value per share (-0.6%). The company's investment portfolio grew to $8.2 billion, driven largely by proceeds from its at-the-market equity program which raised approximately $118 million during the quarter and over $250 million year-to-date. Management expressed a constructive yet cautious outlook for Agency RMBS and CMBS markets due to attractive valuations, reduced rate volatility, and supportive conditions. The portfolio is now 85% allocated toward securities with prepayment protection through specified pools of 30-year Agency RMBS. CEO Kevin Collins emphasized the company's focus on responsible capital issuance near book value while aiming to reduce fixed costs per share and improve stock liquidity. The firm ended Q2 with $548.3 million in unrestricted cash and unencumbered investments, as well as nearly 97% of borrowing costs hedged.
Topics: dividends mortgage-backed_securities portfolio_growth real_estate_investment_trusts