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Economic Return
The actual return the REIT delivers after accounting for financing, hedges, and market moves. It shows how well management converts assets and capital structure into shareholder returns and highlights sensitivity to interest-rate shifts and spread changes.Economic return has been highly volatile—weak in mid‑2025, surged through late‑2025, then turned negative again in Q1‑2026—consistent with rate‑driven mark‑to‑market swings and changing hedge/leverage effects at a mortgage REIT. That pattern raises dividend and NAV sensitivity risk: sustained upside requires stable spreads or better hedge outcomes, while adverse rate moves can quickly erase gains. Watch management commentary on duration, leverage and hedge costs as the key determinant of near‑term returns.
Date | Economic Return |
|---|---|
Jun 30, 2026 | 4.80 |
Mar 31, 2026 | -2.60 |
Dec 31, 2025 | 10.60 |
Sep 30, 2025 | 7.80 |
Jun 30, 2025 | -5.20 |
Mar 31, 2025 | 1.30 |