AGNC Investment Corp (NASDAQ:AGNC) is a real estate investment trust which is rather keen on investing in residential mortgage-backed securities .The business today unveiled financial results for the 2018 second quarter. Reports indicate that this company’s interest rates rose modestly.
A close outlook
That implies that its yield curve flattened further. This scenario resulted from the Federal Reserve resolution to raise the short-term rates slowly. The company handled the longer-term rates quite appropriately.
The Company’s Chief Executive Officer Gary Kain opined “Despite increasing global trade tensions, financial market volatility declined in the second quarter and equity markets recovered somewhat from the weakness experienced during the first quarter of 2018. The U.S. economy continued to perform very well, but there were some signs that the global synchronous growth story was losing momentum.”
The Company’s President Peter Federico says that over the second quarter they raised about $800 million in common equity which they intend to use in enhancing their operating efficiency, liquidity and scale. Reports indicate that the company’s tangible net book value for each share as of June stood at about $18.41 for every share. That reflected a $(0.22) decline per common share considering that in March the associated value was $18.63 per share.
Turn of events
Shareholders applaud the company’s Board of Directors for its resolution to declare a cash dividend of $0.18 per share of common stock. The $18.33 per common share of this company’s estimated tangible net book value includes deductions for this year’s dividend of $0.18 per common share.
A third party will help with the reviewing of the estimated tangible net book value. The verification process will take place anytime soon. AGNC says it won’t undertake the obligation of either revising or updating the tangible net book value.
The company intends to put a slide presentation along with an archived audio of the stockholder call on its website. Asides from that, it also wants to conduct a one hour phone recording. The business giant has provided guidelines to help those that wish to listen to the recording of the presentation. It usually computes the differences in results in accordance with the GAAP.