AGNC Investment Corp. Preferred Stock (AGNCO)
NASDAQ (NGS) 
Summary
AGNCO Chart
AGNC: Rising Mortgage Delinquencies And Agency Privatization Raise Concerns
AGNC Investment Corp. is in a more stable position, with refinancing risk low and cash flow recovering as it shifts toward higher rate mortgage-backed securities. Recent book value gains have been offset by equity dilution, which I view as a negative for shareholder value, especially given AGNC's low price-to-book ratio last year. AGNC's book value is safer than it was, with low refinancing risk and declining MBS spreads, creating a goldilocks environment for leveraged mortgage owners.
Mortgage Rates Declining: Will it Aid AGNC Investment's Performance?
AGNC is rebounding on lower mortgage rates, with first-quarter net interest income turning positive after last year's loss.
AGNC Investment: Agency Securities Face Uncertainty
I maintain my hold rating on AGNC Investment due to ongoing uncertainties around interest rates, tariffs, and the future of Fannie Mae and Freddie Mac. AGNC's high yield remains attractive, but the lack of Fed rate cuts continues to pressure margins and delay potential dividend growth. Trump's possible end to Fannie and Freddie conservatorship introduces new risks regarding the creditworthiness of agency MBS in AGNC's portfolio.
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AGNC Investment Corp. Preferred Stock Profile
| REIT - Mortgage Industry | Real Estate Sector | Mr. Peter J. Federico CEO | NASDAQ (NGS) Exchange | US00123Q1040 ISIN |
| US Country | 53 Employees | 30 Jun 2025 Last Dividend | - Last Split | 8 Sep 2022 IPO Date |
Overview
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.
Products and Services
- Residential Mortgage Pass-Through Securities
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.
- Collateralized Mortgage Obligations (CMOs)
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.
Contact Information
