American Capital Agency Corp. (NASDAQ:AGNC) Downgraded by Zacks Investment Research to “Hold”
American Capital Agency Corp. (NASDAQ:AGNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Over the past three months, AGNC Investment’s shares outperformed the Zacks categorized REIT-Mortgage Trust industry. In April, the company reported better-than-expected first-quarter 2017 results. The quarter witnessed relatively stable fixed income markets. The company’s efficient cost structure and portfolio repositioning efforts for hedging interest rate uncertainty augur well. Further, the acquisition of its external manager in last July has substantially lowered its operating costs. However, the widespread volatility in the market amid concerns over global economies and rate hike issues pose concerns.”
Several other research firms also recently issued reports on AGNC. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.50 price target on shares of American Capital Agency Corp. in a research note on Tuesday, May 30th. BidaskClub upgraded American Capital Agency Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Deutsche Bank AG upped their price target on American Capital Agency Corp. from $18.50 to $19.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Wells Fargo & Company downgraded American Capital Agency Corp. from an “outperform” rating to a “market perform” rating and set a $20.50 price target for the company. in a research note on Tuesday, April 11th. They noted that the move was a valuation call. Finally, TheStreet upgraded American Capital Agency Corp. from a “d+” rating to a “c” rating in a research note on Wednesday, March 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.96.
Shares of American Capital Agency Corp. (NASDAQ AGNC) traded down 1.16% during midday trading on Friday, hitting $21.37. The company had a trading volume of 2,599,946 shares. American Capital Agency Corp. has a one year low of $17.30 and a one year high of $22.34.
American Capital Agency Corp. (NASDAQ:AGNC) last released its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $198 million during the quarter, compared to the consensus estimate of $227.90 million. American Capital Agency Corp. had a return on equity of 11.46% and a net margin of 158.34%. During the same quarter in the prior year, the company posted $0.52 EPS. On average, equities analysts expect that American Capital Agency Corp. will post $2.43 EPS for the current year.
The firm also recently announced a jun 17 dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 28th. American Capital Agency Corp.’s payout ratio is 49.54%.
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In related news, Director Morris A. Davis sold 3,741 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $20.80, for a total transaction of $77,812.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in American Capital Agency Corp. by 24.3% in the first quarter. Tower Research Capital LLC TRC now owns 5,584 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 1,090 shares during the period. Washington Trust Bank purchased a new position in American Capital Agency Corp. during the first quarter valued at approximately $121,000. James Investment Research Inc. purchased a new position in American Capital Agency Corp. during the first quarter valued at approximately $148,000. Penserra Capital Management LLC boosted its position in American Capital Agency Corp. by 42.0% in the first quarter. Penserra Capital Management LLC now owns 7,649 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 2,261 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in American Capital Agency Corp. during the first quarter valued at approximately $161,000. 54.74% of the stock is owned by hedge funds and other institutional investors.
American Capital Agency Corp. Company Profile
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).
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