AGNC Investment reports Q4 adjusted EPS 37c, consensus 44c

Reports $8.41 tangible net book value per common share as of December 31, 2024. “Entering 2025, we continue to have a very positive outlook for Agency MBS, supported by the increasingly favorable environment that emerged in 2024” said Peter Federico, the Company’s President and CEO. “The Federal Reserve finally shifted its restrictive monetary policy stance and began the process of returning short term rates to a neutral level. With declining inflationary pressures and accommodative monetary policy, interest rate volatility eased during the year, and the yield curve steepened after being inverted for the second longest episode on record. In addition, with primary mortgages rates again near 7%, the supply of Agency MBS should continue to be limited and reasonably well-aligned with investor demand. Lastly, and perhaps most importantly to our business, Agency MBS spreads to benchmark rates remain in a well-defined range and offer levered and unlevered investors very attractive return opportunities.”