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AGNC Investment Corp. Announces Third Quarter 2022 Financial Results
BETHESDA, Md., Oct. 24, 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., Oct. 24, 2022 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended September 30, 2022.\nTHIRD QUARTER 2022 FINANCIAL HIGHLIGHTS \n$(2.01) comprehensive loss per common share, comprised of:$(1.31) net loss per common share$(0.70) other comprehensive loss (\"OCI\") per common share on investments marked-to-market through OCI$0.84 net spread and dollar roll income per common share, excluding estimated \"catch-up\" premium amortization benefit 1Includes $0.23 per common share of dollar roll income associated with the Company's $20.3 billion average net long position in Agency mortgage-backed securities (\"MBS\") in the \"to-be-announced\" (\"TBA\") marketExcludes $0.03 per common share of estimated \"catch-up\" premium amortization benefit due to change in projected constant prepayment rate (\"CPR\") estimates$9.08 tangible net book value per common share as of September 30, 2022Decreased $(2.35) per common share, or -20.6%, from $11.43 per common share as of June 30, 2022$0.36 dividends declared per common share for the third quarter-17.4% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $(2.35) decrease in tangible net book value per common share OTHER THIRD QUARTER HIGHLIGHTS \n$61.5 billion investment portfolio as of September 30, 2022, comprised of:$41.9 billion Agency MBS$17.9 billion net TBA mortgage position$1.7 billion credit risk transfer (\"CRT\") and non-Agency securities8.7x tangible net book value \"at risk\" leverage as of September 30, 20228.1x average tangible net book value \"at risk\" leverage for the quarterCash and unencumbered Agency MBS totaled $3.6 billion as of September 30, 2022Includes $0.8 billion at the Company's captive broker-dealer, Bethesda SecuritiesExcludes unencumbered CRT and non-Agency securitiesRepresented approximately 54% of the Company's tangible equity as of September 30, 2022, largely unchanged from June 30, 2022.7.0% average projected portfolio life CPR as of September 30, 20229.2% actual portfolio CPR for the quarter2.81% annualized net interest spread and TBA dollar roll income for the quarter, excluding estimated \"catch-up\" premium amortization benefitExcludes 10 bps of \"catch-up\" premium amortization benefit due to change in...