AGNC Investment Q4: 14% Yield, But No Major Re-Rating Potential (Rating Downgrade)
AGNC(AGNC) Seeking Alpha·2024-01-29 12:40
David Gyung AGNC Investment Corp. (NASDAQ:AGNC) is a well-managed mortgage real estate investment trust with a $60 billion portfolio consisting mainly of 30-year duration agency mortgage-backed securities. The trust suffered painful declines in its book value last year as the central pushed rates up and mortgage-backed security spreads widened. With that being said, with the shift in the central bank's interest rate strategy for 2024, mortgage trusts have become more compelling passive income vehicles again ...