AGNC Investment Corp (NASDAQ:AGNC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, October 17th.
According to Zacks, “Shares of AGNC Investment have outperformed the industry it belongs to, year to date. Moreover, the Zacks Consensus Estimate for current-year earnings remained unchanged in a month’s time. Recently, it announced a public offering of 24.5 million common shares, the proceeds of which will be invested in various securities and hedging instruments. The company's cost containment efforts also augur well. However, as the company prioritizes risk management over incremental returns, robust returns are expected to remain elusive in the short run. In addition, its investments bear interest rate exposure rendering volatility to the market value of investments.”
AGNC has been the subject of several other reports. BidaskClub cut AGNC Investment Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Maxim Group reissued a “buy” rating and issued a $21.25 price objective on shares of AGNC Investment Corp in a research report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price objective on shares of AGNC Investment Corp in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.28.
Shares of AGNC Investment Corp (NASDAQ:AGNC) traded up 0.19% during trading on Tuesday, hitting $20.57. 2,517,097 shares of the stock traded hands. The company’s 50 day moving average is $21.55 and its 200 day moving average is $21.19. AGNC Investment Corp has a 52-week low of $17.30 and a 52-week high of $22.34. The firm has a market cap of $7.31 billion, a PE ratio of 4.30 and a beta of 0.20.
AGNC Investment Corp (NASDAQ:AGNC) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.50 million. AGNC Investment Corp had a return on equity of 12.50% and a net margin of 145.02%. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, equities research analysts predict that AGNC Investment Corp will post $2.53 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in AGNC Investment Corp by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 26,795,085 shares of the real estate investment trust’s stock valued at $532,955,000 after buying an additional 1,177,783 shares during the last quarter. State Street Corp raised its position in AGNC Investment Corp by 2.9% in the 1st quarter. State Street Corp now owns 10,810,056 shares of the real estate investment trust’s stock valued at $215,029,000 after buying an additional 300,474 shares during the last quarter. Wells Fargo & Company MN raised its position in AGNC Investment Corp by 17.6% in the 2nd quarter. Wells Fargo & Company MN now owns 6,611,039 shares of the real estate investment trust’s stock valued at $140,749,000 after buying an additional 987,395 shares during the last quarter. Acadian Asset Management LLC raised its position in AGNC Investment Corp by 35.0% in the 2nd quarter. Acadian Asset Management LLC now owns 5,610,700 shares of the real estate investment trust’s stock valued at $119,451,000 after buying an additional 1,453,704 shares during the last quarter. Finally, FMR LLC increased its position in shares of AGNC Investment Corp by 12.1% during the 1st quarter. FMR LLC now owns 2,314,969 shares of the real estate investment trust’s stock worth $46,044,000 after purchasing an additional 249,586 shares during the last quarter. 55.73% of the stock is currently owned by institutional investors and hedge funds.
About AGNC Investment Corp
AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).
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