AGNC Investment Corp - FXDFR PRF PERPETUAL USD 25 - Ser D 1/1000th int

AGNC Investment Corp. operates as a real estate investment trust. It primarily invests in agency residential mortgage-backed securities on a leveraged basis. The firm's investments consist of residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a United States Government-sponsored enterprise, such as the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and by a U.S. Government agency, such as the Government National Mortgage Association. It also invests in other types of mortgage and mortgage-related residential and commercial mortgage-backed securities where repayment of principal and interest is not guaranteed by a GSE or U.S. Government agency. The company was founded on January 7, 2008 and is headquartered in Bethesda, MD.

AGNC Investment Corp. engages in the operation of a real estate investment trust. Its investments include other types of mortgages and mortgage-related residential and commercial mortgage-backed securities where repayment of principal and interest is not guaranteed by a GSE or United States government agency. The company was founded on January 7, 2008, and is headquartered in Bethesda, MD.

Ares Commercial Real Estate

AGNC Investment

AGNC Investment Corp. Deposit Shs Repr 1/1000th Cum Conv Red Pfd Registered Shs Series C

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These fat dividends benefited from floating in one way or another. Many of them are more than 10%. Some shares start floating in 2024 or early 2025. Those shares aren't showing their floating yield yet, even though they will kick in soon. We also need to look at the change in valuations for some better companies.

How Floating Rate Shares Could Earn Over 10%

I'm buying AGNC's Series C floating rate preferreds, which currently offer an 11% yield on cost and are trading just 5 cents above their liquidation price. The mREIT has five outstanding floating rate preferreds that offer an alternative and safer way to gain exposure to its portfolio of residential mortgage-backed securities. I've stayed away from the commons which are trading at a nearly 20% premium to net book value albeit with a substantial 15% annualized dividend yield paid monthly.

AGNC: Why I Bought The 11% Yielding Preferreds

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Following the best week of the year, U.S. equity markets were mixed this week as interest rates rebounded from the prior week's plunge after Fed officials pushed back on market optimism. Posting gains in nine out of ten sessions since dipping into "correction territory" at the end of October, the S&P 500 gained 1.4% on the week, but Mid-Caps and Small-Caps posted declines. Following their best week since 2020, REITs took a step back this week as upward pressure on benchmark interest rates offset a solid conclusion to a strong earnings season.

Fed Says 'Not So Fast'

We take a look at the action in preferreds and baby bonds through the fourth week of October and highlight some of the key themes we are watching. Preferred stocks were slightly lower as Treasury yields fell, driving yields above the COVID period. Mortgage REIT preferreds kicked off earnings and saw double-digit drops in book value.

Preferreds Weekly Review: Agency mREITs Kick Off Earnings

AGNC's spread income was reported as "solid," but it holds no meaning and the market ignored it. AGNC's tangible book value per share dropped by $2.71 or about 28%, a significant loss. AGNC's woes are incredible considering that the company issued equity at an extremely rapid clip, far above today's market price.

AGNC: Billionaire Says At This Rate He Will Be Forced To Live Like A Millionaire

AGNC Investment has 5 series of preferred shares. AGNCM's share price is expected to increase slightly as the floating date approaches, assuming short-term interest rates remain elevated. AGNCP is another attractive option with a wider spread, and its share price is also expected to climb as the floating date approaches.

AGNCM: Less Than 7 Months Until The Big Floating Dividend Period

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Agency MBS is an attractive asset class for income investors due to its cheap valuation, high quality, and diversification benefits. The option-adjusted spread for Agency MBS is elevated compared to corporate credit spreads, making it an appealing investment. There are various ways to invest in Agency MBS, including through mortgage REITs, leveraged CEFs, unleveraged ETFs, and mREIT preferreds.

Why The Agency MBS Sector Is Worth A Look Now

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U.S. equity markets advanced to their highest levels of the year on an "inflation week" rally after the closely-watched CPI and PPI reports showed a continued sharp cooldown in price pressures. Closing at the highest levels since April 2022, the S&P 500 advanced 2.4% this week, while the other major equity benchmarks - the Mid-Cap 400 and Small-Cap 600 - gained 3%. Real estate equities- the sector with perhaps the most potential upside from a "soft landing" scenario- were among the leaders for a third straight week. The Equity REIT Index gained 2.9%.

Stick The Soft Landing

Variable rate securities should be agnostic to interest rates. Yet the floating rate preferreds crashed on a strong jobs report. The mispricing is exacerbated representing even greater opportunity.

Preferred Dislocation Accelerates On Jobs Report

Finding the better investment between two similar shares can be really easy. I'll demonstrate the math. There's nothing complex here. It's basically grade school math plus snark. Let us be grateful that the market is not efficient. If it were efficient, we couldn't make these trades.

AGNC Preferred Shares: Getting Paid For Simple Math

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U.S. equity markets closed-out a volatile first-half at their highest-levels of the year as investors cheered data showing continued resilience in economic activity alongside further signs of cooling inflationary pressure. Rebounding from its worst week since March, the S&P 500 advanced 2.3% to close at its highest-levels since April 2022. The Mid-Cap 400 and Small-Cap 600 each rallied over 4%. Lifted by a recovery in the most beaten-down property sectors, real estate equities led the rally on the week. The Equity REIT Index advanced 4.3% while Mortgage REITs surged 6%.

REITs Lead Quarter-End Rally

Cherry Hill Mortgage

One REIT slashed its dividend by more than 40%. We warned readers in advance, so it's no big deal. We found another opportunity where investors can improve their cash flow. What's better than a higher yield a year from now? Cash in your pocket today. There are clear opportunities for trading between very similar shares.

How To Potentially Make Easy Money Trading Similar Shares Online

Essex Property Trust

Invesco S&P 500 Equal Weight Real Estate ETF

Extra Space Storage

Rates Up, REITs Down? Whether fundamentally justified or not, commercial and residential real estate markets continue to bear the brunt of the Federal Reserve's historically swift monetary tightening cycle. Commercial real estate, in particular, has been the boogeyman that bank executives have blamed for unrelated distress. While there are pockets of distress, actual default rates remain historically low. The pockets of distress are almost entirely debt-driven, with the notable exception of coastal urban office properties. Nearly every property sector reported "same-store" property-level income above pre-pandemic levels.

State Of REITs: Distress Brings Opportunity

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Markets are racing higher as the earnings season turned out much better than expected. Sector rotation into tech stocks has led to a surge in big-tech with Nvidia clearly leading the pack.

My Dividend Stock Portfolio: New April Dividend Record - 99 Holdings With 21 Buys

Most of these picks are starting at dividend yields around 9%. A few are set to increase significantly. The company doesn't get to simply decide on a lower dividend rate. The floating rates are set by the market.

9% Dividend Yields Or Higher At Big Discounts

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U.S. equity markets finished lower for a second-straight week as data showing an encouraging cooldown of inflationary pressures was offset by ongoing regional bank instability and an unresolved debt ceiling standoff. Declining for a second week after ending April at its highest levels of the year, the S&P 500 slipped 0.3% on the week, but the tech-heavy Nasdaq 100 gained nearly 1%.

Inflation Cools, But Nobody Believes It

We take a look at the action in preferreds and baby bonds through the last week of April and highlight some of the key themes we are watching. Preferreds gained over April as risk sentiment turned positive in the absence of further bank tremors.

Preferreds Weekly Review: Agency mREIT Preferreds Kick Off Earnings

ARMOUR Residential REIT

Evaluating Risk / Reward In 8-10%-Yielding Agency mREIT Preferreds.

Evaluating Risk / Reward In 8-10%-Yielding Agency mREIT Preferreds

AGNC Investment Corp. (AGNC) Q1 2023 Earnings Call Transcript.

AGNC Investment Corp. (AGNC) Q1 2023 Earnings Call Transcript

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REIT Earnings Preview: When The Tide Goes Out.

REIT Earnings Preview: When The Tide Goes Out

AGNC Q1 Earnings: Shrinking Assets, Expanding Share Counts.

AGNC Q1 Earnings: Shrinking Assets, Expanding Share Counts

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The big yields in these shares will draw in many investors. Huge dividend increases may be required when floating rates kick in. We're including my largest position.

5 Dividend Yields From 7% To 16%

Big income here. As floating rates come online, we could see some significant dividend increases. If rates remain as high as they are today, the yield could hit 15%.

9% Yield Could Reach 15%

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U.S. equity markets oscillated forcefully while interest rates plunged this week as contagion from a pair of mid-sized bank collapses spread to other lenders while authorities scrambled to contain the fallout. On brand with the "March Madness" theme this week, the S&P 500 seesawed between gains and losses in each session but ultimately ended the week higher by 1.1%.

Fed Fights 'Ghost Of Inflation Past'

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Mortgage REITs have been slammed by the fallout of the ongoing regional banking crisis amid a resurgence of interest rate volatility and credit concerns, erasing their once-robust gains for 2023. Commercial mREITs' exposure to the troubled office sector has come into focus following a wave of mega-sized loan defaults from over-levered private owners. We examine these REITs' sector-by-sector exposure.

Mortgage REITs: High Yield Opportunity And Risk

News for AGNC Investment Corp - FXDFR PRF PERPETUAL USD 25 - Ser D 1/1000th int Stock (AGNCM)