AIC - AGNC Investment's Q3 2021 Income Statement And Earnings Projection - Part 1 (Includes Current Recommendation)

• This series projects AGNC’s income statement for the third quarter of 2021. These projections help readers understand how some of the fixed-rate agency mREIT sector performed (valuable insight).
• I am projecting AGNC will report a minor increase in net spread income for the third quarter of 2021 versus the prior quarter. This is due to slightly lower amortization.
• I am projecting AGNC will report a very minor gain on the sale of investment securities and record a minor decrease in net spread and dollar roll income per share.
• I am projecting AGNC will report a modest gain regarding the company’s derivative instruments and other securities for the third quarter of 2021.
• I believe AGNC is appropriately valued from a stock price perspective (a HOLD recommendation). This article provides specific AGNC per share price ranges that is derived from my/our valuation methodology.

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