AGNCM News and Press, AGNC Investment Corp. Depositary Shares rep 6.875% Series D Fixed-to-Floating Cumulative Redeemable Preferred Stock From 03/05/23

2023-03-05 09:00:00 ET Summary U.S. equity markets rebounded following their worst week of the year as investors parsed data showing surprising resilience in global economic activity this winter despite stiff interest rate headwinds. Snapping a three-week skid and notching its bes...

Summary In June 2022, I published an article about the upcoming opportunity in fixed income, specifically baby bonds and fixed to floating-rate preferred shares. In July 2022, I published a second article with roughly 100 candidate baby bond and preferred shares for investment in a risi...

Summary Slash to 11% or 12% incoming. Shares already dipped some, though many investors don’t know about the cut yet. Looking at the financials, it was clear the dividend would get whacked this year. Some peers are also poised to cut for 2023. Disagree with my techniq...

AGNC Investment Corp. (AGNC) Credit Suisse 24th Annual Financial Services Forum February 14, 2023 03:15 PM ET Company Participants Peter Federico - CEO Sean Reid - EVP, Strategy & Corporate Development Conference Call Participants Douglas Harter - Credit Su...

Summary KBWD is a high-yield ETF in financials. Mortgage REITs weigh 44% of asset value. Since inception, it has lost about 30% in share price. In 10 years, distributions have shrunk by 20%. Bonus: How to manage capital decay in high yield securities. This divide...

Summary Big unsustainable yield at a premium valuation. This share isn’t for investors, it’s for suckers. The valuation is at historically high levels. People who keep holding onto shares are not investing. Losing money isn’t the criteria for being an investor. ...

Summary We take a look at the action in preferreds and baby bonds through the first week of February and highlight some of the key themes we are watching. Preferreds put up another strong week, extending their rally into February. Mortgage REITs put up good Q4 numbers with a rise in...

Summary Annaly's latest dividend cut will not be its last. Structural aspects of agency mREITs create a slow bleed of book value. Preferred shares look significantly better than common. The upgrade thesis Annaly Capital ( NLY ), despite operating intelligently,...

Summary A sharp rally across the income space has scrambled a lot of income portfolios. The fall in Treasury yields means duration exposure is less well compensated, so we take this opportunity to dial down duration exposure with a rotation to AGNCL from ARR.PC. Apart from a higher ...

Summary AGNC had a terrible 2022 but Q4-2022 was a significant improvement. While tangible book value improved, there were two major actions which reduced potential upside. We look at the key takeaways from the results and put to rest the idea that the company is buying mortgage bac...