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 to investors 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.”
Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of AGNC Investment Corp. from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Maxim Group reaffirmed a “buy” rating and issued a $21.25 price target on shares of AGNC Investment Corp. in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $19.00 target price on shares of AGNC Investment Corp. in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.28.
Shares of AGNC Investment Corp. (AGNC) traded down $0.29 during trading on Tuesday, reaching $19.49. 6,162,731 shares of the company’s stock were exchanged, compared to its average volume of 4,780,000. The firm has a market capitalization of $7,160.00, a price-to-earnings ratio of 7.79 and a beta of 0.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.22 and a quick ratio of 0.22. AGNC Investment Corp. has a 1 year low of $17.30 and a 1 year high of $22.34.
AGNC Investment Corp. (NASDAQ:AGNC) last issued its quarterly earnings results 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. AGNC Investment Corp. had a net margin of 145.02% and a return on equity of 12.50%. The company had revenue of $178.00 million for the quarter, compared to analyst estimates of $177.50 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. research analysts expect that AGNC Investment Corp. will post 2.54 earnings per share for the current year.
Several large investors have recently modified their holdings of AGNC. Comerica Bank increased its holdings in shares of AGNC Investment Corp. by 10.5% in the 1st quarter. Comerica Bank now owns 36,617 shares of the real estate investment trust’s stock worth $782,000 after buying an additional 3,465 shares during the last quarter. United Services Automobile Association increased its holdings in shares of AGNC Investment Corp. by 60.4% in the 1st quarter. United Services Automobile Association now owns 159,847 shares of the real estate investment trust’s stock worth $3,179,000 after buying an additional 60,177 shares during the last quarter. FMR LLC increased its holdings in shares of AGNC Investment Corp. by 12.1% in the 1st quarter. FMR LLC now owns 2,314,969 shares of the real estate investment trust’s stock worth $46,044,000 after buying an additional 249,586 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of AGNC Investment Corp. by 7.9% in the 1st quarter. Teachers Advisors LLC now owns 408,122 shares of the real estate investment trust’s stock valued at $8,118,000 after purchasing an additional 29,991 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of AGNC Investment Corp. by 10.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,808 shares of the real estate investment trust’s stock valued at $832,000 after purchasing an additional 4,022 shares in the last quarter. 57.88% of the stock is currently owned by hedge funds and other institutional investors.
AGNC Investment Corp. Company Profile
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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