Zacks Investment Research upgraded shares of AGNC Investment (NASDAQ:AGNC) from a hold rating to a buy rating in a report published on Monday morning. They currently have $21.00 price target on the real estate investment trust’s stock.
According to Zacks, “Shares of AGNC Investment have underperformed its industry over the past six months. Nonetheless, the trend in estimate revisions indicates a favorable outlook for 2018 and 2019 earnings of the company. Notably, it is making efforts to reposition its portfolio to offset risks related to interest rates and prepayment uncertainty. In line with this, it remains focused to increase investments in mortgage backed securities (MBS) and improve its hedge portfolio. This will also support its performance in the long term. Going forward, a strong capital position and access to a diverse funding base are expected to provide significant financial flexibility to AGNC Investment.”
A number of other equities analysts have also recently weighed in on AGNC. BidaskClub cut AGNC Investment from a strong-buy rating to a buy rating in a report on Tuesday, June 19th. JPMorgan Chase & Co. boosted their price target on AGNC Investment from $18.00 to $18.50 and gave the stock a $19.11 rating in a report on Monday, July 23rd. ValuEngine cut AGNC Investment from a hold rating to a sell rating in a report on Friday, June 1st. Maxim Group boosted their price target on AGNC Investment from $19.25 to $19.75 and gave the stock a buy rating in a report on Friday, July 27th. Finally, Barclays reissued a hold rating and issued a $19.00 price target on shares of AGNC Investment in a report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.46.
AGNC Investment (NASDAQ:AGNC) last released its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. AGNC Investment had a return on equity of 11.69% and a net margin of 134.01%. The company had revenue of $177.00 million during the quarter, compared to analysts’ expectations of $274.15 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. research analysts predict that AGNC Investment will post 2.44 earnings per share for the current fiscal year.
The firm also recently disclosed a sep 18 dividend, which will be paid on Tuesday, October 9th. Stockholders of record on Friday, September 28th will be given a $0.18 dividend. This represents a dividend yield of 11.44%. The ex-dividend date of this dividend is Thursday, September 27th. AGNC Investment’s dividend payout ratio is currently 87.80%.
In other news, Director Morris A. Davis sold 6,797 shares of AGNC Investment stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $19.12, for a total value of $129,958.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of AGNC Investment by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 1,900,713 shares of the real estate investment trust’s stock valued at $35,334,000 after purchasing an additional 70,113 shares during the period. Schroder Investment Management Group grew its position in shares of AGNC Investment by 120.7% in the second quarter. Schroder Investment Management Group now owns 130,543 shares of the real estate investment trust’s stock valued at $2,449,000 after purchasing an additional 71,406 shares during the period. Mainstay Capital Management LLC ADV purchased a new stake in shares of AGNC Investment in the second quarter valued at $750,000. Public Employees Retirement System of Ohio grew its position in shares of AGNC Investment by 10.5% in the second quarter. Public Employees Retirement System of Ohio now owns 165,393 shares of the real estate investment trust’s stock valued at $3,075,000 after purchasing an additional 15,756 shares during the period. Finally, Cleararc Capital Inc. grew its position in shares of AGNC Investment by 51.8% in the second quarter. Cleararc Capital Inc. now owns 218,417 shares of the real estate investment trust’s stock valued at $4,060,000 after purchasing an additional 74,510 shares during the period. 57.71% of the stock is owned by institutional investors and hedge funds.
AGNC Investment Company Profile
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 residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, 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, GSEs).
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