Q4 average net interest margin of 1.31% vs. 1.24% in Q3.
During H2 2018, the company began to reposition its agency portfolio into newly issued 30-year agency RMBS and agency CMBS to "take advantage of accretive opportunities in those sectors."
The repositioning drove an increase in its weighted average asset yield to 4.02% as of Dec. 31, 2018, up 24 basis points from 3.78% as of Sept. 30, 2018.
Invesco Mortgage gains 0.3% in after-hours trading.
Heightened volatility in almost all agency and credit assets during Q4 led to Invesco Mortgage's book value falling 9.3% to $15.27 per share at year end, before recovering about half of the decline in January.
Previously: Invesco Mortgage Capital beats by $0.05, beats on net interest income (Feb. 20)
Now read: Employers Holdings beats by $0.67 »
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