AGNC Investment reports Q4 EPS 57c, consensus 59c

Reports Q4 tangible net book value per common share $8.70 an increase of 7.7% for the quarter compared to $8.08 per share in Q3. Reports Q4 comprehensive income per common share $1.00, comprised of 57c net income per common share and 43c other comprehensive income per common share on investments marked-to-market through OCI. “The Q4 illustrated the importance of our active portfolio management strategy, as AGNC generated a very favorable 12.1% economic return despite significant intra-quarter volatility,” said Peter Federico, the Company’s President and Chief Executive Officer. “Over the last two years, the Federal Reserve has engineered one of the most aggressive tightening campaigns ever experienced, increasing the Federal Funds rate by 5.25% while simultaneously reducing its balance sheet by $1.3T. Despite this challenging fixed income environment, AGNC generated a positive economic return of 3.0% in 2023, produced a total stock return of 10.0%, and, importantly, provided shareholders with a stable and compelling monthly dividend.”