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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

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
ORCHID ISLAND CAPITAL 5.58   0.0 -0.29 0.96 17.75
CHERRY HILL MORTGAGE INVESTMENT 13.52   0.0 -3.91 1.60 14.40
ANNALY CAPITAL MANAGEMENT 8.60   0.0 -3.32 1.20 14.00
NEW RESIDENTIAL INVESTMENT 14.98   18.0 0.83 2.00 13.28
NEW YORK MORTGAGE TRUST 6.14   12.0 0.51 0.80 12.74
DYNEX CAPITAL 15.16   0.0 -10.26 1.80 12.06
ARMOUR RESIDENTIAL REIT 17.26   0.0 -9.30 2.04 12.03
TWO HARBORS INVESTMENT 13.28   0.0 -2.81 1.60 12.02
INVESCO MORTGAGE CAPITAL 15.18   0.0 -1.01 1.80 11.80
AG MORTGAGE INVESTMENT TRUST 17.47   6.1 2.87 1.90 10.89
CHIMERA INVESTMENT 19.57   21.5 0.91 2.00 10.23
ELLINGTON FINANCIAL 17.90   16.3 1.10 1.68 9.44
PENNYMAC MORTGAGE INV TRUST 22.24   9.5 2.35 1.88 8.50
BLACKSTONE MORTGAGE TRUST 36.16   14.5 2.49 2.48 6.94
CAPSTEAD MORTGAGE 7.41   0.0 -0.86 0.48 6.58
BLACKROCK 434.75   16.5 26.34 13.20 3.08
ISHARES FTSE NAREIT MORTG PLUS CAPPED INDEX FUND 41.97   0.0 0.00 0.00 0.00

ORCHID ISLAND CAPITAL - ORC
ORCHID ISLAND CAPITAL - ORC  


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