IVR Book Value Plunges to $6.74 as Leverage Climbs to 8.3x
IVR is trading near its 52-week low of $5.45 (3.1% above the low).
Summary
IVR reported a sharp drop in estimated book value to $6.74 per share as of September 30, 2026, down from $7.74 two weeks prior, while leverage climbed to 8.3x economic debt-to-equity.
Key Events · Earnings and Guidance · IVR
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Book Value Drops 12.9% in Two Weeks
Estimated book value per common share fell to $6.74 as of September 30, 2026, down from $7.74 reported on September 15, 2026 — a $1.00 per share decline in just two weeks.
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Leverage Climbs to 8.3x Economic Debt-to-Equity
Economic debt-to-equity ratio reached 8.3x, up from prior levels, with $6.8 billion in repurchase agreement borrowings against total stockholders' equity.
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Liquidity Position
Unrestricted cash and unencumbered investments totaled $401.3 million against $6.8 billion in repurchase agreement borrowings, leaving limited buffer for margin calls.
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October Dividend Declared at $0.12
The company declared its regular $0.12 monthly dividend, payable November 16, 2026 to stockholders of record on October 26, 2026.
Analysis · IVR · Real Estate & Construction
Invesco Mortgage Capital's estimated book value per share fell to $6.74 as of September 30, 2026, down from $7.74 just two weeks earlier on September 15. That is a 12.9% drop in book value in a single month, driven by heavy leverage — economic debt-to-equity now stands at 8.3x. The company is trading near its 52-week low of $5.45, and this book value decline suggests the stock's discount to book value is narrowing for the wrong reasons: the book value itself is eroding. With $6.8 billion in repurchase agreement borrowings and only $401 million in unrestricted cash, the company remains highly sensitive to interest rate moves and margin calls. The $0.12 monthly dividend is unchanged, but at a $6.74 book value, the annualized $1.44 dividend represents a 21% yield on book — a level that may be unsustainable if book value continues to deteriorate.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, IVR was trading at $5.62 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $598.5M. The 52-week trading range was $5.45 to $9.50. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.