AGNC reports higher net income and comprehensive income
AGNC Investment Corp. posted GAAP net income of USD 610 million, swinging from a loss of USD 178 million a year earlier.
GAAP comprehensive income attributable to common stockholders turned positive at USD 603 million from a loss of USD 130 million.
Net spread and dollar roll income, a non-GAAP measure, rose to USD 462 million, or USD 0.40 per diluted share, from USD 388 million.
Investment portfolio (including TBAs) increased to USD 97.2 billion from USD 94.7 billion; tangible net book value per share rose USD 0.20.
At-risk leverage held at 7.4x tangible equity; hedge ratio was 82% as of quarter-end, while unencumbered cash and Agency RMBS climbed to USD 7.5 billion.
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