AGNC Investment Corp.: Cyclical Play, Not An Income Asset
AGNCAGNC(AGNC) Seeking Alpha·2024-06-07 17:45

Klaus Vedfelt AGNC Investment Corp. (NASDAQ:AGNC) is a well-known mortgage REIT, which often draws the attention of income investors. I've even seen some theses that recommend it as part of an income portfolio. Currently, the shares trade at over a 14% yield, which naturally gets a lot of attention. Yet, given the long-term history of this REIT and its strategy, I don't see this as a viable income investment for those seeking steady, durable cash flow in their portfolio. Rather, I will argue that this is a ...