DX - AGNC: Where To Find Better Deals On Mortgage Preferreds
2024-07-24 11:03:38 ET
Summary
- AGNC Investment faced challenges with hedge rolls and interest rate cuts, leading to negative economic returns in Q2-2024.
- Despite maintaining dividends, AGNC's tangible book value loss outweighed returns, with a record amount of equity issued.
- We tell you why there are better choices than AGNC, even for those sticking with preferred shares.
On our last coverage of AGNC Investment Corp. ( AGNC ) we felt the company's income would be stressed as hedges rolled off. We also thought the interest rate cuts would not materialize as quickly as the market was seeing, and that added another layer of caution....
AGNC: Where To Find Better Deals On Mortgage Preferreds