AGNC(US:AGNC) Prnewswire·2025-10-20 20:01Core Insights - AGNC Investment Corp. reported strong financial results for Q3 2025, driven by favorable macroeconomic conditions and robust performance in agency mortgage-backed securities (MBS) [3][4][5] Financial Highlights - The company achieved an economic return on tangible common equity of 10.6%, consisting of $0.36 in dividends and a $0.47 increase in tangible net book value per share [3][5] - Tangible net book value per common share rose to $8.28, a 6.0% increase from $7.81 in the previous quarter [5][12] - AGNC's investment portfolio totaled $90.8 billion, with 95% in 30-year fixed-rate agency MBS and TBA securities [4][5] Investment Portfolio - The weighted average coupon for fixed-rate agency MBS and TBA securities was 5.14%, slightly up from 5.13% in the previous quarter [4][6] - The company raised $345 million through Series H Preferred Stock, marking the largest mortgage REIT preferred stock offering since 2021 [5][10] Income and Expenses - Net spread and dollar roll income per common share was $0.35, down from $0.38 in the prior quarter [9][12] - The average asset yield on the investment portfolio was 4.83%, compared to 4.89% in the previous quarter [8][18] - The annualized net interest spread for the quarter was 1.78%, down from 2.01% in the prior quarter [8][18] Leverage and Liquidity - The company's tangible net book value "at risk" leverage ratio was 7.6x, unchanged from the previous quarter [10][12] - AGNC concluded the quarter with $7.2 billion in unencumbered cash and agency MBS, representing 66% of its tangible equity [5][10] Other Comprehensive Income - The company recorded other comprehensive income of $61 million, or $0.06 per common share, compared to $48 million in the prior quarter [11][12]