AGNC Investment Corp. (NASDAQ:AGNC – Get Rating) saw a sharp decline in short interest during the month of August. As of August 15, there was short interest totaling 10,180,000 shares, down 42.6% from the July 31 total of 17,730,000 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 10,680,000 shares, the day-to-cover ratio is currently 1.0 day.
AGNC Investment Price Performance
AGNC opened at $12.37 on Friday. AGNC Investment has a 12-month low of $9.99 and a 12-month high of $16.75. The company has a market capitalization of $6.47 billion, a price-earnings ratio of -6.48 and a beta of 1.07. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt ratio of 0.02. The company has a fifty-day simple moving average of $11.97 and a 200-day simple moving average of $12.31.
AGNC Investment (NASDAQ:AGNC – Get Rating) last announced its results on Monday, July 25. The real estate investment trust reported earnings per share of $0.83 for the quarter, beating the consensus estimate of $0.59 by $0.24. AGNC Investment recorded a positive return on equity of 20.36% and a negative net margin of 69.82%. The company posted revenue of $315.00 million in the quarter, versus a consensus estimate of $323.75 million. During the same period last year, the company made earnings per share of $0.76. The company’s revenue increased 35.8% year over year. Equity research analysts expect AGNC Investment to post EPS of 2.7 for the current fiscal year.
AGNC Investment announces a dividend
The company also recently declared an August 22 dividend, which will be paid on Monday, September 12. Shareholders of record on Wednesday August 31 will receive a dividend of $0.12 per share. The ex-date of this dividend is Tuesday, August 30. This represents a dividend yield of 11.3%. AGNC Investment’s payout ratio is -75.39%.
Institutional negotiation of AGNC Investment
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Centiva Capital LP increased its stake in AGNC Investment by 698.0% in the second quarter. Centiva Capital LP now owns 2,990,016 shares of the real estate investment trust worth $33,100,000 after purchasing an additional 3,490,016 shares during the period. Qube Research & Technologies Ltd increased its holdings of AGNC Investment shares by 236.3% during the fourth quarter. Qube Research & Technologies Ltd now owns 2,054,977 shares of the real estate investment trust worth $30,907,000 after buying an additional 1,443,904 shares in the last quarter. Northern Trust Corp increased its stake in shares of AGNC Investment by 28.6% in the second quarter. Northern Trust Corp now owns 6,052,716 shares of the real estate investment trust worth $67,004,000 after buying an additional 1,346,753 shares in the last quarter. The Swiss National Bank acquired a new position in AGNC Investment during the 2nd quarter worth approximately $13,630,000. Finally, Equity Investment Corp increased its stake in AGNC Investment by 36.7% in the 1st quarter. Equity Investment Corp now owns 4,014,444 shares of the real estate investment trust worth $52,589,000 after buying an additional 1,076,783 shares in the last quarter. 47.52% of the shares are held by institutional investors.
Changes to analyst ratings
A number of research companies have recently commented on AGNC. Piper Sandler upgraded AGNC Investment from a “neutral” rating to an “overweight” rating and lowered its price target for the stock from $13.50 to $13.00 in a Thursday, May 5, report. Maxim Group reduced its target price on AGNC Investment from $17.00 to $13.00 in a report on Wednesday, May 4. Credit Suisse Group cut its price target on AGNC Investment shares to $12.50 and gave the stock an “na” rating in a Monday, May 16 report. Keefe, Bruyette & Woods upgraded AGNC Investment shares from a “market performer” rating to an “outperformer” rating and raised their price target for the stock from $12.25 to 13, $25 in a Wednesday, June 8 research report. Finally, the Royal Bank of Canada reduced its price target on AGNC Investment shares from $17.00 to $14.00 in a Monday, May 16 report. Five investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.00.
About AGNC Investment
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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 pass-through residential mortgage-backed securities and secured mortgage bonds (CMOs) for which principal and interest payments are guaranteed by a government-sponsored company, 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, the GSE).
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