0001437071-26-000054
SEC filingIVR二季度扭亏为盈，每股净收益0.34美元，经济回报率3.8%，投资组合表现强劲。
| 指标 | 本期 (Q2 2026) | 去年同期 (Q2 2025) | 同比 |
|---|---|---|---|
| Revenue (Net Interest Income) | $30.1M | $17.7M | — |
| Net Income (Loss) Attributable to Common Stockholders | $31.8M | ($26.6M) | — |
| Diluted EPS (GAAP) | $0.34 | ($0.40) | — |
| Earnings Available for Distribution per Common Share (Non-GAAP) | $0.50 | $0.58 | — |
| Book Value per Common Share | $8.03 | — | — |
| Economic Return | 3.8% | — | — |
| Debt-to-Equity Ratio | 6.3x | — | — |
| Economic Debt-to-Equity Ratio (Non-GAAP) | 7.5x | — | — |
简评
Invesco Mortgage Capital (IVR) 于2026年第二季度实现扭亏为盈，GAAP净利润为$31.8M，每股收益$0.34，较上季度每股亏损$0.28显著改善。这一改善主要得益于衍生品工具净收益$31.6M，部分抵消了投资净亏损$21.2M。净利息收入环比增长$3.1M至$30.1M，平均资产收益率5.15%，资金成本降至3.73%，净利差1.42%。经济回报率达3.8%，CEO Kevin Collins 指出这由“attractive carry and contracting risk premiums across our Agency MBS portfolio”驱动。
投资组合方面，截至季末总规模$8.2B，其中Agency RMBS占73.4%，Agency CMBS占11.1%，TBA占14.7%。杠杆率保持稳定，经济债务/权益比7.5x，与上季度持平。公司维持$0.36/股的月度股息，与上季度一致。资本活动方面，通过ATM计划发行14,847,506股，净募资$118.0M，并回购47,222股优先股。管理层对下半年Agency RMBS和CMBS前景持建设性态度，认为估值仍具吸引力，利率波动和通胀预期已从一季度高点回落，供需动态有利。