Bank of America started coverage on shares of AGNC Investment (NASDAQ:AGNC) in a report issued on Monday, The Fly reports. The brokerage issued a neutral rating on the real estate investment trust’s stock.
A number of other brokerages also recently weighed in on AGNC. BidaskClub raised shares of AGNC Investment from a hold rating to a buy rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of AGNC Investment from $18.00 to $17.50 and set an overweight rating for the company in a report on Wednesday, July 24th. TheStreet downgraded shares of AGNC Investment from a c rating to a d+ rating in a report on Thursday, July 25th. Royal Bank of Canada assumed coverage on shares of AGNC Investment in a report on Wednesday, October 2nd. They set a sector perform rating and a $16.00 price target for the company. Finally, Zacks Investment Research raised shares of AGNC Investment from a sell rating to a hold rating and set a $18.00 price target for the company in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $17.57.
Shares of AGNC Investment stock traded up $0.09 on Monday, reaching $17.35. 2,248,500 shares of the stock were exchanged, compared to its average volume of 5,140,378. The firm’s 50 day moving average is $16.52 and its 200-day moving average is $16.66. AGNC Investment has a one year low of $14.51 and a one year high of $18.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $9.36 billion, a PE ratio of 7.38, a P/E/G ratio of 2.74 and a beta of 0.26.
AGNC Investment (NASDAQ:AGNC) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.11. AGNC Investment had a negative net margin of 84.94% and a positive return on equity of 11.89%. The company had revenue of $119.00 million during the quarter, compared to the consensus estimate of $280.17 million. During the same quarter in the prior year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts expect that AGNC Investment will post 2.11 EPS for the current fiscal year.
The business also recently disclosed a nov 19 dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 27th. AGNC Investment’s dividend payout ratio is 81.70%.
In related news, Director Morris A. Davis acquired 7,350 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $17.02 per share, for a total transaction of $125,097.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its position in AGNC Investment by 149.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,496 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 896 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in AGNC Investment during the 3rd quarter worth approximately $29,000. Steward Partners Investment Advisory LLC acquired a new position in AGNC Investment during the 2nd quarter worth approximately $30,000. Meeder Asset Management Inc. increased its position in AGNC Investment by 2,397.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,873 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,798 shares in the last quarter. Finally, Synovus Financial Corp increased its position in AGNC Investment by 37.7% during the 3rd quarter. Synovus Financial Corp now owns 2,316 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 634 shares in the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.
About AGNC Investment
AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).
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