Overview

* AGNC Q2 comprehensive loss per share $0.13, flat yoy

* AGNC Q2 net loss per common share at $0.17 vs net loss per common share of $0.11 yoy

* Tangible net book value per share decreased 5.3% to $7.81

* Economic return on tangible equity -1.0%, driven by dividends and book value decline

Outlook

* AGNC anticipates favorable conditions for levered and hedged Agency MBS investments

* Company expects increased bank participation in Agency MBS markets

* AGNC sees mortgage spreads to benchmark rates as favorable

Result Drivers

* INTEREST RATE VOLATILITY - AGNC faced increased interest rate volatility, impacting investor sentiment and economic return, per CEO Peter Federico

* MORTGAGE SPREADS - Wider mortgage spreads to benchmark rates contributed to a decline in tangible net book value, according to CFO Bernice Bell

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.17

Q2 Net -$140

Income mln

Q2 Net $162 mln

Interest

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for AGNC Investment Corp ( AGNC ) is $9.90, about 6.6% above its July 18 closing price of $9.25

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)