REITResearch

AGNC Investment Corp. AGNC

Listed / Traded Mortgage NASDAQ Mgmt:

AGNC Investment Corp. functions as a U.S.-based real estate investment trust (REIT). The firm primarily concentrates its investments on residential mortgage-backed securities (RMBS) and collateralized mortgage obligations (CMOs). A defining feature of these securities is that their principal and interest payments are secured by guarantees from either U.S. government-sponsored entities or federal government agencies. To fund these investments, AGNC largely depends on secured borrowings, specifically organized as repurchase agreements. The company has opted for REIT tax status under the 1986 Internal Revenue Code, which exempts it from federal corporate income taxes, contingent on distributing a minimum of 90% of its taxable profits to its shareholders. Originally established in 2008, the entity, with its headquarters in Bethesda, Maryland, operated as American Capital Agency Corp. until it adopted its current name, AGNC Investment Corp., in September 2016.

Snapshot

Price
$10.30
Market cap
$11.82B
Enterprise value
$115.98B
Dividend yieldi
13.98%
Annual dividendi
$1.44
Frequency
Monthly
FFO / sharei
Not reported (common for mortgage REITs)
EAD / sharei
$0.42 · Q1 2026
Net debt / EBITDAi
23.20x · GAAP est.
Op. cash flow / sharei
$0.64
Price / OCFi
16.15
Payout (% of OCF)i
225.75%
Debt / book capitali
89.57%
Premium / disc. to NAVi
No free consensus-NAV source
Credit ratingi
No free ratings feed

Reported FFO / EAD / leverage are from the Q1 2026 earnings release (filed 2026-04-20) — 8-K, EX-99.1.

Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.

Dividends

Ex-dateRecordPaymentDeclaredAmountFreq.
2026-06-302026-06-302026-07-10 2026-06-11$0.12Monthly
2026-05-292026-05-292026-06-09 2026-05-07$0.12Monthly
2026-04-302026-04-302026-05-11 2026-04-08$0.12Monthly
2026-03-312026-03-312026-04-10 2026-03-12$0.12Monthly
2026-02-272026-02-272026-03-10 2026-02-11$0.12Monthly
2026-01-302026-01-302026-02-10 2026-01-08$0.12Monthly
2025-12-312025-12-312026-01-12 2025-12-09$0.12Monthly
2025-11-282025-11-282025-12-09 2025-11-12$0.12Monthly
2025-10-312025-10-312025-11-12 2025-10-08$0.12Monthly
2025-09-302025-09-302025-10-09 2025-09-11$0.12Monthly
2025-08-292025-08-292025-09-10 2025-08-07$0.12Monthly
2025-07-312025-07-312025-08-11 2025-07-09$0.12Monthly
2025-06-302025-06-302025-07-10 2025-06-12$0.12Monthly
2025-05-302025-05-302025-06-10 2025-05-07$0.12Monthly
2025-04-302025-04-302025-05-09 2025-04-09$0.12Monthly
2025-03-312025-03-312025-04-09 2025-03-13$0.12Monthly
2025-02-282025-02-282025-03-11 2025-02-13$0.12Monthly
2025-01-312025-01-312025-02-11 2025-01-08$0.12Monthly
2024-12-312024-12-312025-01-10 2024-12-11$0.12Monthly
2024-11-292024-11-292024-12-10 2024-11-07$0.12Monthly
2024-10-312024-10-312024-11-12 2024-10-09$0.12Monthly
2024-09-302024-09-302024-10-09 2024-09-13$0.12Monthly
2024-08-302024-08-302024-09-11 2024-08-08$0.12Monthly
2024-07-312024-07-312024-08-09 2024-07-10$0.12Monthly

Coverage (payout of operating cash flow): 225.75%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).

Balance sheet (latest FY: 2025)

Total debt
$101.79B
Cash
$1.74B
Net debt / EBITDAi
23.20x
Debt / book capitali
89.57%
Total assets
$115.08B
Total equity
$12.39B

Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.

Financial history

FYRevenueNet incomeD&A EBITDAOp. cash flow
2025 $1.91B $1.67B $177.00M $4.70B $653.00M
2024 $4.88B $863.00M $0.00 $3.79B $86.00M
2023 $1.01B $155.00M $0.00 $2.44B $-118.00M
2022 $3.30B $-1.19B $13.00M $-552.00M $1.01B
2021 $2.41B $749.00M $369.00M $1.19B $1.54B
2020 $341.00M $-266.00M $1.08B $1.49B $1.75B

Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.