Mendon Capital Advisors Corp Takes $1.92 Million Position in AGNC Investment Corp. $AGNC

Key Points

• Mendon Capital Advisors Corp has acquired a new stake in AGNC Investment Corp, purchasing 200,000 shares valued at approximately $1.92 million.
• Several institutional investors have also increased their stakes, with notable purchases from Nuveen LLC and Citigroup Inc., indicating strong interest in the stock.
• AGNC Investment recently declared a dividend of $0.12 per share, reflecting an annualized yield of 13.9%, despite having a payout ratio of over 400%.

Mendon Capital Advisors Corp purchased a new stake in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the real estate investment trust's stock, valued at approximately $1,916,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in AGNC Investment in the 1st quarter worth approximately $30,546,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of AGNC Investment by 18.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 16,996,741 shares of the real estate investment trust's stock valued at $162,828,000 after purchasing an additional 2,589,020 shares during the period. Vanguard Group Inc. lifted its stake in shares of AGNC Investment by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 85,779,209 shares of the real estate investment trust's stock valued at $821,765,000 after purchasing an additional 2,462,337 shares during the period. Citigroup Inc. lifted its stake in shares of AGNC Investment by 496.7% in the 1st quarter. Citigroup Inc. now owns 1,487,202 shares of the real estate investment trust's stock valued at $14,247,000 after purchasing an additional 1,862,128 shares during the period. Finally, Natixis Advisors LLC lifted its stake in shares of AGNC Investment by 21.1% in the 1st quarter. Natixis Advisors LLC now owns 4,318,354 shares of the real estate investment trust's stock valued at $41,370,000 after purchasing an additional 752,201 shares during the period. Hedge funds and other institutional investors own 38.28% of the company's stock.

Insider Activity at AGNC Investment

In other AGNC Investment news, Director John D. Fisk sold 20,278 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $9.65, for a total transaction of $195,682.70. Following the transaction, the director owned 112,685 shares of the company's stock, valued at approximately $1,087,410.25. The trade was a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul E. Mullings sold 11,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $9.61, for a total value of $105,710.00. Following the transaction, the director directly owned 128,511 shares in the company, valued at $1,234,990.71. This trade represents a 7.88% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on AGNC Investment from $9.50 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods upped their price objective on AGNC Investment from $9.50 to $10.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Jones Trading reissued a "buy" rating and set a $9.50 target price on shares of AGNC Investment in a research report on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.63.

AGNC Investment Trading Up 0.1%

Shares of NASDAQ:AGNC opened at $10.35 on Wednesday. AGNC Investment Corp. has a 12-month low of $7.85 and a 12-month high of $10.85. The company has a market capitalization of $10.78 billion, a PE ratio of 30.44 and a beta of 1.30. The business has a 50 day moving average of $9.61 and a two-hundred day moving average of $9.40. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.01.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.04). The business had revenue of $830.00 million during the quarter, compared to analysts' expectations of $447.37 million. AGNC Investment had a net margin of 11.50% and a return on equity of 19.32%. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, analysts forecast that AGNC Investment Corp. will post 1.61 EPS for the current year.

AGNC Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 13.9%. The ex-dividend date is Friday, August 29th. AGNC Investment's payout ratio is presently 423.53%.

About AGNC Investment

AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.