Business
AGNC INVESTMENT CORP. ANNOUNCES SECOND QUARTER 2022 FINANCIAL RESULTS
BETHESDA, Md., July 25, 2022 /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., July 25, 2022 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended June 30, 2022. \nSECOND QUARTER 2022 FINANCIAL HIGHLIGHTS \n$(1.34) comprehensive loss per common share, comprised of:$(0.87) net loss per common share$(0.47) other comprehensive loss (\"OCI\") per common share on investments marked-to-market through OCI$0.83 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization benefit 1Includes $0.35 per common share of dollar roll income associated with the Company's $19.7 billion average net long position in Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") marketExcludes $0.13 per common share of estimated \"catch-up\" premium amortization benefit due to change in projected constant prepayment rate (\"CPR\") estimates$11.43 tangible net book value per common share as of June 30, 2022Decreased $(1.69) per common share, or -12.9%, from $13.12 per common share as of March 31, 2022$0.36 dividends declared per common share for the second quarter-10.1% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $(1.69) decrease in tangible net book value per common shareOTHER SECOND QUARTER HIGHLIGHTS \n$61.3 billion investment portfolio as of June 30, 2022, comprised of:$43.6 billion Agency MBS$15.9 billion net TBA mortgage position$1.8 billion credit risk transfer (\"CRT\") and non-Agency securities7.4x tangible net book value \"at risk\" leverage as of June 30, 20227.8x average tangible net book value \"at risk\" leverage for the quarterCash and unencumbered Agency MBS totaled approximately $2.8 billion as of June 30, 2022Excludes unencumbered CRT and non-Agency securities and assets held at the Company's broker-dealer subsidiary, Bethesda Securities7.2% average projected portfolio life CPR as of June 30, 202212.4% actual portfolio CPR for the quarter2.70% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization benefitExcludes 37 bps of \"catch-up\" premium amortization benefit due to change in projected CPR estimatesCapital markets activityIssued 4.1 million common shares through ATM Offerings at an average offering price of $12...