The Atlanta-based real estate investment trust reported an estimated book value of $7.74 per common share as of August 31, 2026. This figure comes alongside a total investment portfolio valued at $8.3 billion, which includes both Agency mortgage-backed securities and To-Be-Announced (TBA) positions. The firm maintains $534.7 million in unrestricted cash and unencumbered investments, providing a liquidity buffer against its $6.9 billion in repurchase agreement borrowings.
Management also disclosed key leverage metrics, citing a debt-to-equity ratio of 6.8x, alongside an economic debt-to-equity ratio of 7.5x. The portfolio remains heavily weighted toward 30-year fixed-rate pass-through securities, which comprise over 80% of the total holdings. While these preliminary, unaudited figures reflect the company's internal assessment of its financial position, management cautioned that final quarter-end results could vary as closing processes continue.
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