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AGNC Investment Corp. Announces Fourth Quarter 2022 Financial Results
BETHESDA, Md., Jan. 30, 2023 /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., Jan. 30, 2023 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended December 31, 2022. \nFOURTH QUARTER 2022 FINANCIAL HIGHLIGHTS \n$1.17 comprehensive income per common share, comprised of:$0.93 net income per common share$0.24 other comprehensive income (\"OCI\") per common share on investments marked-to-market through OCI$0.74 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization cost 1Includes $0.11 per common share of dollar roll income associated with the Company's $19.0 billion average net long position in Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") marketExcludes $(0.01) per common share of estimated \"catch-up\" premium amortization cost due to change in projected constant prepayment rate (\"CPR\") estimates$9.84 tangible net book value per common share as of December 31, 2022Increased $0.76 per common share, or 8.4%, from $9.08 per common share as of September 30, 2022$0.36 dividends declared per common share for the fourth quarter12.3% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $0.76 increase in tangible net book value per common share OTHER FOURTH QUARTER HIGHLIGHTS \n$59.5 billion investment portfolio as of December 31, 2022, comprised of:$39.5 billion Agency MBS$18.6 billion net TBA mortgage position$1.4 billion credit risk transfer (\"CRT\") and non-Agency securities7.4x tangible net book value \"at risk\" leverage as of December 31, 20227.8x average tangible net book value \"at risk\" leverage for the quarterCash and unencumbered Agency MBS totaled $4.3 billion as of December 31, 2022Excludes unencumbered CRT and non-Agency securitiesRepresents 59% of the Company's tangible equity as of December 31, 20227.4% average projected portfolio life CPR as of December 31, 20226.8% actual portfolio CPR for the quarter2.74% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization costExcludes -3 bps of \"catch-up\" premium amortization cost due to change in projected CPR estimatesCapital markets activityIssued 23.3 million common shares through At-the-Market (\"ATM\") Offerings at an average offering pric...