Dividend-News

Detailed Assessment Of AGNC Investment's Results For Q3 2019 (Includes November 2019-January 2020 Dividend Projection)

Published Thu, 07 Nov 2019 00:59:19 -0500 on Seeking Alpha

Introduction/Recap:
On 10/30/2019, AGNC Investment Corp. (AGNC) reported results for the third quarter of 2019. AGNC reported a net loss of ($4) million, other comprehensive income (“OCI”) of $246 million, comprehensive (total) income of ($242) million, a non-tangible book value (“BV”) as of 9/30/2019 of $17.52 per common share, and a tangible BV as of 9/30/2019 of $16.55 per common share. As of 6/30/2019, AGNC had a non-tangible and tangible BV of $17.54 and $16.58 per common share, respectively.
In PART 3 of my AGNC Q3 2019 income statement and EPS projection article, I projected the company would report the following amounts in relation to the third quarter of 2019: 1) net income of $137 million; 2) OCI of $246 million; and 3) comprehensive income of $242 million. In my prior AGNC Q3 2019 and 10/11/2019 BV projection article, I projected the company would report a non-tangible and tangible BV as of 9/30/2019 of $17.55 and $16.60 per common share, respectively.
As such, both my AGNC non-tangible and tangible BV projections were basically an “exact match” when compared to the company’s reported amounts. With that being said, a couple of AGNC accounts outperformed my expectations while a couple underperformed my expectations (which basically “netted” themselves out; which is something I anticipate when I set my projections). As such, this article will still take a look at each of AGNC’s income statement accounts and compare them to my previous... Read more