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BETHESDA, Maryland - AGNC Investment Corp (NASDAQ:AGNC) reported first quarter 2025 earnings that beat analyst expectations, driven by higher net spread and dollar roll income.
The mortgage real estate investment trust posted net spread and dollar roll income of $0.44 per share for Q1, exceeding the analyst consensus estimate of $0.40 per share. This was up from $0.37 per share in the previous quarter.
AGNC’s tangible net book value per common share declined slightly to $8.25 as of March 31, 2025, down 1.9% from $8.41 at the end of 2024. The company generated an economic return on tangible common equity of 2.4% for the quarter.
"AGNC generated a favorable economic return of 2.4% in the first quarter," said Peter Federico, President, CEO and CIO. "Despite broader equity market declines, AGNC’s total stock return with dividends reinvested for the quarter was 7.8%."
The company’s investment portfolio totaled $78.9 billion as of March 31, 2025. AGNC maintained a conservative leverage profile of 7.5x tangible net book value.
AGNC declared dividends of $0.36 per common share for the first quarter. The stock was relatively unchanged in after-hours trading following the earnings release.
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