AGNC Investment reports Q1 EPS 59c, consensus 57c

Reports Q1 $8.84 tangible net book value per common share, up 14c per common share, or 1.6%, from $8.70 per common share as of December 31, 2023. “AGNC generated an economic return of 5.7% in the first quarter of 2024, as the favorable macroeconomic environment for fixed income investors that began in late 2023 persisted throughout the first quarter of 2024″ said Peter Federico, the Company’s President and CEO. “Particularly beneficial for Agency mortgage-backed securities investors in the first quarter, interest rate volatility declined meaningfully, Agency MBS spreads remained relatively stable, and the Federal Reserve indicated that short term rates had likely reached their pinnacle for this monetary policy cycle. Additionally, the Federal Reserve noted that a reduction in the pace of its balance sheet runoff would commence fairly soon, signaling that the quantitative tightening process was reaching its conclusion.”