AGNC Investment Corp. currently yields above 15%. While likely not sustainable in the longer term, a yield capture opportunity seems on the cards. A July 21st earnings release could have a material impact. Combining AGNC's WALA, 30-year mortgage rates, 10-year yields, and the MOVE index suggests a commendable Q2 report might surface. The mREIT's preferred shares, especially C, E, and F convey sound yields. However, they are priced above their liquidation values, have reset options, and yield lower than the commons.
The prevailing sentiment surrounding AGNC Investment Corp. has turned quite bullish recently. I believe the bulls overlooked several key risks. The top ones in my model are the narrow/inverted yield curve spread and its use of leveage.
AGNC's Q2 results are expected to reflect higher interest income, but will book value and valuation raise investor caution? Let us find out.
![]() AGNC In 1 weeks Announced | Monthly | $0.12 Per Share |
![]() AGNC 2 weeks ago Paid | Monthly | $0.12 Per Share |
![]() AGNC 1 month ago Paid | Monthly | $0.12 Per Share |
![]() AGNC 2 months ago Paid | Monthly | $0.12 Per Share |
![]() AGNC 3 months ago Paid | Monthly | $0.12 Per Share |
21 Jul 2025 (In 3 days) Date | | 0.41 Cons. EPS | - EPS |
21 Jul 2025 (In 3 days) Date | | 0.42 Cons. EPS | - EPS |
21 Apr 2025 Date | | - Cons. EPS | - EPS |
20 Jan 2025 Date | | 0.42 Cons. EPS | 0.37 EPS |
28 Oct 2024 Date | | 0.51 Cons. EPS | - EPS |
![]() AGNC In 1 weeks Announced | Monthly | $0.12 Per Share |
![]() AGNC 2 weeks ago Paid | Monthly | $0.12 Per Share |
![]() AGNC 1 month ago Paid | Monthly | $0.12 Per Share |
![]() AGNC 2 months ago Paid | Monthly | $0.12 Per Share |
![]() AGNC 3 months ago Paid | Monthly | $0.12 Per Share |
21 Jul 2025 (In 3 days) Date | | 0.41 Cons. EPS | - EPS |
21 Jul 2025 (In 3 days) Date | | 0.42 Cons. EPS | - EPS |
21 Apr 2025 Date | | - Cons. EPS | - EPS |
20 Jan 2025 Date | | 0.42 Cons. EPS | 0.37 EPS |
28 Oct 2024 Date | | 0.51 Cons. EPS | - EPS |
REIT - Mortgage Industry | Real Estate Sector | Peter J. Federico CEO | XMEX Exchange | US00123Q1040 ISIN |
US Country | 53 Employees | 31 Jul 2025 Last Dividend | - Last Split | 8 Sep 2022 IPO Date |
AGNC Investment Corp. operates as a pivotal entity within the United States housing market, providing private capital to accommodate a variety of needs. The organization positions itself as a significant investor in the residential mortgage-backed securities domain, focusing primarily on assets that come with the reliability of government sponsorship or guarantee. It operates under the framework of a real estate investment trust (REIT), a designation that allows it to enjoy certain tax advantages, provided it adheres to specific income distribution guidelines. Originally known as American Capital Agency Corp., the company underwent a rebranding in September 2016 to its current designation, signaling a strategic realignment or expansion of its business model. Founded in 2008, AGNC Investment Corp. is based in Bethesda, Maryland, demonstrating a blend of experience and strategic positioning within the financial and housing sector.
These are investments in pools of residential mortgages that have been securitized. Essentially, the cash flow from the underlying mortgages is passed through to investors. These securities are appealing because they are backed by the government-sponsored enterprises (GSEs) or government agencies, which minimizes the risk of default.
CMOs are a type of mortgage-backed security in which mortgages are pooled and then dissected into various tranches that have different levels of priority in the cash flow from the pool. This structure allows investors to select tranches that match their risk appetite and investment horizon. Just like the residential mortgage pass-through securities, the principal and interest payments of CMOs that AGNC Investment Corp. invests in are guaranteed by a U.S. government-sponsored enterprise or agency.