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AGNC Investment Corp. Announces First Quarter 2025 Financial Results
BETHESDA, Md., April 21, 2025 /PRNewswire/ -- AGNC Investment Corp. ("AGNC" or the "Company") (Nasdaq: AGNC) today announced financial results for the quarter
About this update from Agnc Investment Corp.
[{"type":"text","content":"BETHESDA, Md., April 21, 2025 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended March 31, 2025. \n\nFIRST QUARTER 2025 FINANCIAL HIGHLIGHTS \n$0.12 comprehensive income per common share, comprised of:$0.02 net income per common share$0.10 other comprehensive income (\"OCI\") per common share on investments marked-to-market through OCI$0.44 net spread and dollar roll income per common share1Excludes less than $(0.01) per common share of estimated \"catch-up\" premium amortization cost due to change in projected constant prepayment rate (\"CPR\") estimates$8.25 tangible net book value per common share as of March 31, 2025Decreased $(0.16) per common share, or -1.9%, from $8.41 per common share as of December 31, 2024$0.36 dividends declared per common share for the first quarter2.4% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $(0.16) decrease in tangible net book value per common shareOTHER FIRST QUARTER HIGHLIGHTS \n$78.9 billion investment portfolio as of March 31, 2025, comprised of:$70.5 billion Agency MBS$7.5 billion net forward purchases/(sales) of Agency MBS in the \"to-be-announced\" market (\"TBA securities\")$0.9 billion credit risk transfer (\"CRT\") and non-Agency securities and other mortgage credit investments7.5x tangible net book value \"at risk\" leverage as of March 31, 20257.3x average tangible net book value \"at risk\" leverage for the quarterUnencumbered cash and Agency MBS totaled $6.0 billion as of March 31, 2025Excludes unencumbered CRT and non-Agency securitiesRepresents 63% of the Company's tangible equity as of March 31, 20258.3% average projected portfolio life CPR as of March 31, 20257.0% actual portfolio CPR for the quarter2.12% annualized net interest spread for the quarter2Issued 49.7 million shares of common equity through At-the-Market (\"ATM\") Offerings for net proceeds of $509 million___________\n1.\nRepresents a non-GAAP measure. Please refer to the Reconciliation of GAAP Comprehensive Income (Loss) to Net Spread and Dollar Roll Income and Use of Non-GAAP Financial Information included in this release for additional information.\n2.\nPlease refer to Net Interest Spread Components by Funding Source included in this release for additional inform...