Introduction/Recap:
On 1/29/2020, AGNC Investment Corp. (AGNC) reported results for the fourth quarter of 2019. AGNC reported net income of $871 million, other comprehensive income (“OCI”) of $15 million, comprehensive (total) income of $886 million, a non-tangible book value (“BV”) as of 12/31/2019 of $18.63 per common share, and a tangible BV as of 12/31/2019 of $17.66 per common share. As of 9/30/2019, AGNC had a non-tangible and tangible BV of $17.52 and $16.55 per common share, respectively.
In PART 3 of my AGNC Q4 2019 income statement and EPS projection article,