- On 4/26/2021, AGNC reported results for the first quarter of 2021. AGNC reported comprehensive income of $738 million and a non-tangible BV as of 3/31/2021 of $18.72 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 July 2021.
- I will also provide my thoughts about AGNC’s MBS and derivatives portfolios as of 3/31/2021 and discuss trends that have occurred during April 2021 impacting the sector.
- AGNC’s BV performance and the company’s net spread + dollar roll exceeded my already high expectations. My current price target and recommendation are stated in the “Conclusions Drawn” section.
- The vast majority of AGNC’s BV outperformance centered around one account; AGNC’s lifetime CPR/premium amortization expense adjustment. This assessment article fully discusses this topic.
For further details see:
Assessing AGNC Investment's Results For Q1 2021 (Includes Dividend Projection Through July 2021)