Invesco Mortgage Capital Inc. (IVR) reported earnings available for distribution (EAD) of $0.56 per common share for the quarter ended Dec. 31, 2025. This result missed the analyst consensus estimate of $0.59 and fell from $0.58 in the third quarter. However, revenue surged to $56.06 million, significantly exceeding the anticipated $36.43 million.
The company’s book value per common share increased 3.7% to $8.72, up from $8.41 in the previous quarter. This growth supported a dividend increase to $0.36 per share, compared to $0.34 in Q3. The company delivered an economic return of 8.0% for the quarter, down slightly from 8.7% in the preceding period.
While IVR operates as a financial REIT, the broader macro pressure affecting SaaS and software stocks—namely higher interest rates and valuation compression—has historically influenced yield-sensitive equities. However, the Fed’s recent rate cuts have provided a supportive backdrop for Agency RMBS, which outperformed Treasuries across the coupon stack during the quarter.