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Mar 31, 2021
AGNC Q1 2021 Earnings Report
Announced financial results for the quarter ended March 31, 2021.
Key Takeaways
AGNC Investment Corp. reported a comprehensive income of $1.33 per common share and a tangible net book value of $17.72 per common share as of March 31, 2021. The company's economic return on tangible common equity was 8.2% for the quarter.
Comprehensive income per common share was $1.33.
Net spread and dollar roll income per common share was $0.76, excluding estimated 'catch-up' premium amortization benefit.
Tangible net book value per common share increased to $17.72 as of March 31, 2021, a 6.0% increase from December 31, 2020.
Economic return on tangible common equity was 8.2% for the quarter.
Forward Guidance
AGNC believes the Fed will remain accommodative, maintaining its asset purchase program and near-zero interest rate policy until substantial further economic recovery is achieved, creating an attractive investment landscape for Agency MBS.
Positive Outlook
- Favorable short-term funding.
- Attractive TBA dollar roll opportunities.
- Beneficial hedging arrangements from last year's market disruptions.
- Expectation that the Fed will remain accommodative.
- Attractive investment landscape for Agency MBS.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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