Overview

* Invesco Mortgage Capital ( IVR/PC ) Q3 net income per share $0.74, up from Q2 net loss of $0.40

* Book value per common share of $8.41 as of Sept. 30 vs $8.05 as of June 30, 2025

* Economic return of 8.7% in Q3

Outlook

* Company estimates book value per common share between $8.31 and $8.65 as of Oct 24, 2025

* Company sees balanced near-term risks for Agency RMBS after strong performance

* Invesco Mortgage Capital ( IVR/PC ) expects favorable long-term outlook for Agency RMBS and CMBS

Result Drivers

* AGENCY RMBS PERFORMANCE - Declining interest rate volatility and robust investor demand drove higher valuations in Agency RMBS, boosting results

* SWAP SPREADS - Reversal of swap spread tightening provided a tailwind for performance

* CAPITAL STRUCTURE ADJUSTMENT - Co reduced preferred stock proportion, slightly increasing debt-to-equity ratio

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.74

Q3 Net $50.20

Income mln

Q3 Net $17.60

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy."

* Wall Street's median 12-month price target for Invesco Mortgage Capital Inc ( IVR/PC ) is $7.38, about 1% above its October 29 closing price of $7.30

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)