Garden State Investment Advisory Services LLC Buys New Position in AGNC Investment Corp. (NASDAQ:AGNC)

Garden State Investment Advisory Services LLC bought a new stake in shares of AGNC Investment Corp. (NASDAQ:AGNC) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 11,771 shares of the real estate investment trust’s stock, valued at approximately $112,000.

Several other hedge funds have also modified their holdings of AGNC. Ashton Thomas Private Wealth LLC purchased a new stake in shares of AGNC Investment during the 2nd quarter valued at about $31,000. LRI Investments LLC purchased a new stake in shares of AGNC Investment during the 1st quarter valued at about $38,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of AGNC Investment during the 1st quarter valued at about $53,000. Strategic Financial Concepts LLC raised its holdings in shares of AGNC Investment by 934.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 644,716 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 582,411 shares during the period. Finally, Covestor Ltd raised its holdings in shares of AGNC Investment by 905.7% during the 1st quarter. Covestor Ltd now owns 6,849 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 6,168 shares during the period. 38.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AGNC Investment

In related news, CFO Bernice Bell sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.07, for a total transaction of $50,350.00. Following the completion of the transaction, the chief financial officer now owns 298,182 shares in the company, valued at approximately $3,002,692.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

AGNC has been the topic of several analyst reports. Maxim Group downgraded AGNC Investment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Janney Montgomery Scott initiated coverage on AGNC Investment in a report on Thursday, June 6th. They set a “buy” rating and a $10.50 price objective on the stock. Wells Fargo & Company upgraded AGNC Investment from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $12.00 in a report on Friday. Compass Point lifted their price objective on AGNC Investment from $10.25 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on AGNC Investment from $10.00 to $10.25 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

AGNC Investment Price Performance

Shares of AGNC opened at $10.49 on Friday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 11.53 and a beta of 1.47. The stock has a 50 day moving average of $10.19 and a 200-day moving average of $9.83. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.01. AGNC Investment Corp. has a 52 week low of $6.81 and a 52 week high of $10.85.

AGNC Investment (NASDAQ:AGNC) last issued its earnings results on Monday, July 22nd. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $695.00 million during the quarter, compared to analyst estimates of $643.29 million. AGNC Investment had a return on equity of 26.21% and a net margin of 16.15%. AGNC Investment’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. As a group, analysts forecast that AGNC Investment Corp. will post 2.11 EPS for the current year.

AGNC Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 13.73%. AGNC Investment’s dividend payout ratio is currently 158.24%.

AGNC Investment 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).