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AGNC Investment Corp. Announces Preliminary Estimates for First Quarter 2025
BETHESDA, Md. , April 10, 2025 /PRNewswire/ -- AGNC Investment Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced preliminary estimates for certain
About this update from Agnc Investment Corp.
[{"type":"text","content":"BETHESDA, Md. , April 10, 2025 /PRNewswire/ -- AGNC Investment Corp. (Nasdaq: AGNC) (\"AGNC\" or the \"Company\") announced preliminary estimates for certain financial measures for the first quarter 2025:\n\nAs of March 31, 2025, AGNC's tangible net book value was estimated to be $8.25 per common share;For the first quarter 2025, AGNC's total comprehensive income was estimated to be $0.12 per common share;For the first quarter 2025, AGNC's net spread and dollar roll income (a non-GAAP financial measure) was estimated to be $0.44 per common share, excluding less than $(0.01) per common share of estimated \"catch-up\" premium amortization cost;1As of March 31, 2025, AGNC's total investment portfolio was approximately $78.9 billion, which includes approximately $7.5 billion of To-Be-Announced (\"TBA\") Agency MBS and $0.9 billion of credit risk transfer and non-Agency securities and other mortgage credit investments;As of March 31, 2025, AGNC's tangible net book value \"at risk\" leverage ratio was approximately 7.5x;2 For the first quarter 2025, AGNC's estimated economic return on tangible common equity was 2.4%, comprised of $0.36 of dividends declared per common share and an estimated $(0.16) decrease in tangible net book value per common share;As of March 31, 2025, AGNC had approximately $6.0 billion of cash and unencumbered Agency MBS, which represented approximately 63% of the Company's tangible equity;As of March 31, 2025, AGNC's hedge portfolio covered approximately 91% of the Company's funding liabilities,3 and its duration gap4 was approximately 0.4 years; andDuring the first quarter 2025, the Company issued 49.7 million shares of common stock for net proceeds of $509 million.The Company also provided an update regarding its estimated tangible net book value per common share and its \"at risk\" leverage ratio. The Company estimated that its tangible net book value per common share as of April 9, 2025 was between $7.75 and $7.85 per common share before deduction for the Company's common stock dividend previously declared for the month of April 2025, which has a record date of April 30, 2025 and payment date of May 9, 2025. The Company estimated that its \"at risk\" leverage ratio as of April 9, 2025 was approximately 7.9x.2\nThe Company will report full financial results for the first quarter 2025 on April 21, 2025, as pre...