AGNCO - Assessing AGNC Investment's Results For Q3 2021 (Includes Dividend Projection Through January 2022)

• On 10/25/2021, AGNC reported results for the third quarter of 2021. AGNC reported comprehensive income of $218 million and a non-tangible BV as of 9/30/2021 of $17.41 per common share.
• In this article, I will discuss my previous account projections versus actual results. I will also discuss AGNC’s dividend sustainability through January 2022.
• I will also provide my thoughts about AGNC’s MBS and derivatives portfolios as of 9/30/2021 and discuss trends that have occurred during October 2021 impacting the sector.
• AGNC’s quarterly BV performance basically matched my expectations while the company’s net spread + dollar roll income modestly exceeded my expectations.
• AGNC remains appropriately valued from a stock price perspective. My current price target and recommendation are stated in the “Conclusions Drawn” section.

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