SHARPE
Reported results
- Total economic return of $(1.48) per common share, or (11.5)% of beginning book value
- Book value per common share of $10.91 as of September 30, 2026, a decrease of $(1.99) from $12.90 as of June 30, 2026
- Net loss of $(1.34) per common share (GAAP) and comprehensive loss of $(1.49) per common share
- Dividends declared of $0.51 per common share
- Total investment portfolio of $28.3 billion, an increase of 3% from June 30, 2026, with $3.2 billion of MBS purchases during the quarter
- Leverage including TBA securities at cost of 9.0 times shareholders’ equity as of September 30, 2026, compared to 8.1 times as of June 30, 2026
Notes
Book value decline driven primarily by wider Agency MBS spreads. Gains on interest rate hedging portfolio partially offset losses. Company raised $384 million of capital during the quarter: $268 million through ATM program for common equity and $116 million through Series D preferred stock issuance. Liquidity of $1.3 billion of cash and unpledged securities as of September 30, 2026.
Price and volatility reaction
The stock moved -3.4% on the print. No front-expiry chain was on file, so there is no straddle expected move.
| Measure | Value | Basis |
|---|---|---|
| Close before release | 10.93 | 2026-10-16 |
| Close after release | 10.56 | 2026-10-19 |
| Realised move | -3.4% | close to close |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-19 (8-K, Item 2.02). Read the original filing on sec.gov.