AGNC Q4 comprehensive income per share at $0.89

Overview

• Mortgage REIT's Q4 comprehensive income per share was $0.89

• Net income per common share for Q4 was $0.83

• Company issued 34.9 mln shares, raising $356 mln through ATM offerings

Outlook

• Company expects lower interest rate and Agency MBS spread volatility in 2026

• AGNC sees positive developments from Fannie Mae and Freddie Mac purchases

• Company optimistic about generating favorable risk-adjusted returns in current environment

Result Drivers

• AGENCY MBS PERFORMANCE - AGNC's investment in Agency MBS was a key driver, benefiting from reduced interest rate volatility and supportive monetary policy, leading to strong returns.

• INCREASED TANGIBLE NET BOOK VALUE - The company reported a 7.2% increase in tangible net book value per share, driven by favorable market conditions for Agency MBS.

• STRONG LIQUIDITY POSITION - AGNC maintained $7.6 billion in unencumbered cash and Agency MBS, supporting its leverage and investment strategies.

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for AGNC Investment Corp is $11.00, about 7.2% below its January 23 closing price of $11.85

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nPn5rBzw7a

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