Invesco Mortgage Capital Inc. (NYSE: IVR-PC)

Invesco Mortgage Capital Inc. is a Maryland corporation that focuses on investing in financing and managing mortgage backed securities and other mortgage related assets. The company's objective is to provide attractive risk adjusted returns to its stockholders primarily through dividends and secondarily through capital appreciation. As of December 31 2025 it was invested in Agency RMBS Agency CMBS non Agency RMBS non Agency CMBS TBAs real estate related financing arrangements and U. S. Treasury securities. The company conducts its business through its wholly owned subsidiary IAS Operating Partnership L P. It is externally managed and advised by Invesco Advisers Inc its Manager. Invesco Mortgage Capital Inc. has elected to be taxed as a real estate investment trust under the Internal Revenue Code. To maintain its REIT qualification it must distribute at least 90% of its REIT taxable income to stockholders each year. It operates to avoid being classified as an investment company under the Investment Company Act of 1940.

The company generates revenue primarily from interest income on its portfolio of mortgage backed securities. It also may realize gains from the sale of securities and from dollar roll transactions on to be announced TBA contracts. These earnings support the dividend distributions paid to shareholders.

Invesco Mortgage Capital Inc. operates in a competitive mortgage REIT landscape where it faces competition from other REITs, specialty finance companies, mortgage bankers, insurance companies, mutual funds, institutional investors, investment banking firms, financial institutions, and governmental entities. Its competitive advantages include the deep experience of its senior management and its Manager, access to the Manager's sophisticated analytical tools and infrastructure, extensive strategic relationships with primary dealers and banks, and a disciplined investment approach guided by rigorous quantitative and qualitative analysis.

The company does not serve traditional retail customers, instead it transacts with financial intermediaries such as primary dealers, investment banks, brokerage firms, and commercial banks to acquire finance and manage its mortgage backed securities holdings.