Business
AGNC Investment Corp. Announces Fourth Quarter 2024 Financial Results
BETHESDA, Md., Jan. 27, 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., Jan. 27, 2025 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended December 31, 2024.\n\nFOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS \n$(0.11) comprehensive loss per common share, comprised of:$0.10 net income per common share$(0.20) other comprehensive loss (\"OCI\") per common share on investments marked-to-market through OCI$0.37 net spread and dollar roll income per common share1Excludes $0.06 per common share of estimated \"catch-up\" premium amortization benefit due to change in projected constant prepayment rate (\"CPR\") estimates$8.41 tangible net book value per common share as of December 31, 2024Decreased $(0.41) per common share, or -4.6%, from $8.82 per common share as of September 30, 2024$0.36 dividends declared per common share for the fourth quarter-0.6% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $(0.41) decrease in tangible net book value per common shareOTHER FOURTH QUARTER HIGHLIGHTS \n$73.3 billion investment portfolio as of December 31, 2024, comprised of:$65.5 billion Agency MBS$6.9 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 investments7.2x tangible net book value \"at risk\" leverage as of December 31, 20247.2x average tangible net book value \"at risk\" leverage for the quarterUnencumbered cash and Agency MBS totaled $6.1 billion as of December 31, 2024 Excludes unencumbered CRT and non-Agency securitiesRepresents 66% of the Company's tangible equity as of December 31, 20247.7% average projected portfolio life CPR as of December 31, 20249.6% actual portfolio CPR for the quarter1.91% annualized net interest spread for the quarter2Issued 53.2 million shares of common equity through At-the-Market (\"ATM\") Offerings for net proceeds of $511 million2024 FULL YEAR HIGHLIGHTS\n$0.84 comprehensive income per common share, comprised of:$0.93 net income per common share$(0.09) OCI per common share$1.88 net spread and dollar roll income per common share1Includes $0.03 per common share of dollar roll incomeExcludes $0.06 per common share of estimated \"catch-up\" premium amortization benefit$1.44 in...