AGNC Investment And Annaly Q2: Yes, It Can Get Worse [Seeking Alpha]
AGNC Investment Corp. (AGNC)
Last agnc investment corp. earnings: 4/29 04:01 pm
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Source: Seeking Alpha
The Good BrigadeThesisI have been very concerned about the house bubble that has formed during the pandemic and closely monitoring its bursting. And the recent Q2 earnings report ("ER") from AGNC Investment (NASDAQ:NYSE:NLY) just provided more data to assess the degree of the bursting. And unfortunately, my view is that it can still get worse from here.Let's start from a 30,000 feet point of view, as shown in the chart below, taken fromFreddie Mac.Higher interest rates and higher borrowing rates hurt m at least twice. First, they cause higher borrowing for the mREIT businesses and squeeze their profits. Second, demand for new mortgages also weakens because higher rates make houses less affordable for potential buyers. Both AGNC and NLY are reporting these impacts in their ER, with no surprise, as to be detailed in the next section. And I see both trends continuing in the near future.Moreover, this time, I also see they are getting pressured from two other directions. Record inflation
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AGNC
News
- Why AGNC Investment (AGNC) Dipped More Than Broader Market Today [Yahoo! Finance]Yahoo! Finance
- AGNC Investment Corp. (NASDAQ: AGNC) is now covered by analysts at Jonestrading. They set a "buy" rating and a $10.75 price target on the stock.MarketBeat
- AGNC Investment (AGNC) Laps the Stock Market: Here's Why [Yahoo! Finance]Yahoo! Finance
- Is Now the Time to Invest in Annaly and AGNC? What You Need to Know About Mortgage REITs [Yahoo! Finance]Yahoo! Finance
- AGNC Investment (AGNC) Gains As Market Dips: What You Should Know [Yahoo! Finance]Yahoo! Finance
AGNC
Earnings
- 1/22/24 - Beat
AGNC
Sec Filings
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- 3/18/24 - Form 4
- AGNC's page on the SEC website