Invesco Mortgage Capital Posts Preliminary January Month‑End: $7.1B Portfolio, $8.91 Book Value, $0.12 Dividend

Invesco Mortgage Capital posts preliminary month‑end figures for January

Invesco Mortgage Capital Inc., a mortgage real estate investment trust (mREIT), provides preliminary, unaudited month‑end financial data as of Jan. 31, 2026, showing the company’s funding and portfolio position as it enters the quarter close. Management reports a total investment portfolio, including to‑be‑announced (TBA) mortgage‑backed securities, of $7.1 billion and unrestricted cash and unencumbered investments of $510.7 million. The company states total repurchase agreement borrowings of $5.4 billion and an estimated book value per common share of $8.91, calculated after deducting the $170.5 million liquidation preference of its Series C preferred stock from total stockholders’ equity and dividing by 80.7 million common shares outstanding.

Balance‑sheet leverage and financing mix draw focus

The preliminary metrics show a GAAP debt‑to‑equity ratio of 6.1x and an economic debt‑to‑equity ratio of 7.1x, with the latter defined by management as total repurchase agreements and TBAs at an implied cost basis of $963.7 million divided by total stockholders’ equity. That leverage profile reflects the funding model common to agency mREITs, which rely heavily on short‑term repurchase agreements and TBA positions to finance mortgage securities. The figures underline the sensitivity of Invesco Mortgage Capital’s balance sheet to funding market conditions, basis moves in TBAs and repo haircuts that can affect liquidity and capital adequacy during periods of stress.

Company flags preliminary status and limits on reliance

Management emphasizes these figures are preliminary and unaudited, noting the company’s independent auditors have not reviewed or expressed an opinion on the information. Invesco Mortgage Capital warns that month‑end and quarter‑end close processes may materially revise the results and states it has no obligation to update the preliminary metrics as new information or subsequent events occur. The company advises stakeholders to consult its formal quarterly filings for audited, GAAP‑based financial statements and fuller disclosure of risks, accounting policies and contingent items.

Dividend declaration and timing

Separately, Invesco Mortgage Capital declares a cash dividend of $0.12 per common share for February 2026, payable on March 13, 2026, to shareholders of record at the close of business on Feb. 24, 2026 (ex‑dividend date Feb. 24, 2026).

Liquidity cushion and operational implications

The reported $510.7 million of unrestricted cash and unencumbered investments serves as a liquidity buffer against potential margin requirements on repo lines and TBA settlement obligations, a key operational consideration for mREITs managing heavy leverage and short‑term funding exposures.