AGNC (AGNC)
Invests in Agency mortgage securities using repurchase funding and interest-rate hedges.
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Invests primarily in government-guaranteed Agency residential mortgage-backed securities, funded mainly through repurchase agreements and protected with derivatives. The internally managed mortgage REIT earns asset interest after borrowing and hedging costs, while its portfolio remains concentrated in long-dated fixed-rate Agency mortgages.
Invests primarily in Agency residential mortgage-backed securities backed by Fannie Mae, Freddie Mac, or Ginnie Mae guarantees. The mandate also permits Agency multifamily MBS, credit-risk-transfer securities, non-Agency residential and commercial MBS, and other housing-related assets, keeping the platform concentrated in the US mortgage market.
Generates income from investment interest after borrowing and hedging costs, alongside realized gains and losses on securities and derivatives. Repurchase agreements supply most funding, while management adjusts leverage, hedge positions, and duration as market conditions change.
Performance depends on secured short-term funding, hedge effectiveness, Agency MBS liquidity and spreads, borrower prepayments, and housing-GSE policy. REIT status also requires annual distributions tied to taxable income.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 17, 2026 | JP Morgan | Downgrade | ||
| Jul 17, 2026 | Compass Point | Downgrade | ||
| Jul 2, 2026 | Piper Sandler | Reiterate | Rating: —Target: $11.50 | Target: $12 |
| Apr 24, 2026 | RBC Capital | Target | Target: $13 | Target: $12 |
| Apr 24, 2026 | UBS | Reiterate | Rating: —Target: — | Target: $11 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $457.0M · Total debt $89.81B · Total assets $121.76B · Shareholders' equity $12.54B
- Revenue
- $0
- Operating income
- −$49.0M
- Net income
- $610.0M
HistoryDividendAnnual yieldUpcoming
| Institutions | 40.80% | 483.73M shares | |
|---|---|---|---|
| 744 holders · as of Jun 30, 2026 | |||
| Insiders | 0.59% | 7.02M shares | |
| 14 holders · as of Aug 21, 2026 | |||
| Other | 58.61% | 694.73M shares | |
| remainder | |||
1.19B company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 5.45% | 64.59M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.35% | 51.59M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.89% | 46.12M | as of Jun 30, 2026 |
UBS Group AGInstitution | 2.30% | 27.31M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.07% | 24.49M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Bernice Bell | officer: EVP, CFO | −15,000 | $11.07 |
| Jul 28, 2026 | Bernice Bell | officer: EVP, CFO | −5,000 | $11.00 |
| May 12, 2026 | Bernice Bell | officer: EVP, CFO | −10,000 | $10.79 |
| May 6, 2026 | Donna Blank | director | −22,000 | $10.78 |
| May 4, 2026 | Paul E. Mullings | director | −6,800 | $10.74 |
- Annaly Capital Management
Agency MBS peer across TBA trading and repo-funded leverage
- ARMOUR Residential REIT
Agency MBS peer using repo leverage and TBA positions
- Dynex Capital
Agency-focused mortgage REIT rival in RMBS, TBAs, and repo funding
- Invesco Mortgage Capital
Agency mortgage REIT peer in RMBS, TBA positions, and repo leverage
- Orchid Island Capital
Agency RMBS peer using repo leverage and TBA hedges
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AGNC | $10.03 | +0.60% | $11.44B | 5.1 | 6.6 | 3.7 | — |
| Annaly Capital Management | $21.48 | +0.80% | $16.06B | 5.3 | 6.9 | 2.2 | −50.1% |
| ARMOUR Residential REIT | $14.97 | +1.32% | $1.72B | 4.0 | 5.1 | 1.7 | −41.6% |
| Dynex Capital | $12.22 | +1.20% | $2.99B | 4.6 | 7.7 | 3.4 | — |
| Invesco Mortgage Capital | $6.61 | +1.46% | $604.3M | 4.1 | 3.7 | 1.9 | −43.7% |
| Orchid Island Capital | $6.11 | +0.41% | $1.05B | 4.1 | 5.6 | 2.0 | −28.9% |
| Median | 4.1 | 5.6 | 2.0 | −42.6% |