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AGNC Investment Corp. Announces Third Quarter 2024 Financial Results
BETHESDA, Md., Oct. 21, 2024 /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. 21, 2024 /PRNewswire/ -- AGNC Investment Corp. (\"AGNC\" or the \"Company\") (Nasdaq: AGNC) today announced financial results for the quarter ended September 30, 2024.\n\nTHIRD QUARTER 2024 FINANCIAL HIGHLIGHTS \n$0.63 comprehensive income per common share, comprised of:$0.39 net income per common share$0.24 other comprehensive income (\"OCI\") per common share on investments marked-to-market through OCI$0.43 net spread and dollar roll income per common share1Excludes $(0.03) per common share of estimated \"catch-up\" premium amortization cost due to change in projected constant prepayment rate (\"CPR\") estimates$8.82 tangible net book value per common share as of September 30, 2024Increased $0.42 per common share, or 5.0%, from $8.40 per common share as of June 30, 2024$0.36 dividends declared per common share for the third quarter9.3% economic return on tangible common equity for the quarterComprised of $0.36 dividends per common share and $0.42 increase in tangible net book value per common shareOTHER THIRD QUARTER HIGHLIGHTS \n$73.1 billion investment portfolio as of September 30, 2024, comprised of:$68.0 billion Agency MBS$4.1 billion net forward purchases/(sales) of Agency MBS in the \"to-be-announced\" market (\"TBA securities\")$1.0 billion credit risk transfer (\"CRT\") and non-Agency securities and other mortgage credit investments7.2x tangible net book value \"at risk\" leverage as of September 30, 20247.2x average tangible net book value \"at risk\" leverage for the quarterUnencumbered cash and Agency MBS totaled $6.2 billion as of September 30, 2024Excludes unencumbered CRT and non-Agency securitiesRepresents 68% of the Company's tangible equity as of September 30, 202413.2% average projected portfolio life CPR as of September 30, 20247.3% actual portfolio CPR for the quarter2.21% annualized net interest spread for the quarter2Issued 78.1 million shares of common equity through At-the-Market (\"ATM\") Offerings for net proceeds of $781 million1.\nRepresents a non-GAAP measure. Prior to the fourth quarter 2023, this measure was referred to as \"net spread and dollar roll income, excluding 'catch-up' premium amortization cost/benefit, per common share.\" Please refer to the Reconciliation of GAAP Comprehensive Income (Loss) to Net Spread and Dollar Roll Income and Use of Non-GAAP Financial Informa...