AGNCZAGNC Investment Corp. 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock
The Read
6% on generic catalysts, with a bull move of ~2%.
The schedule
- Tue20Oct
Following autumn macro volatility, AGNC's Q3 release will serve as a fundamental reality check on the health of the portfolio and the coverage ratio for preferred dividends.
- Tue9Feb
AGNC's year-end results will establish the 2027 capital strategy. Investors will focus on the company's hedging costs and the forward sustainability of the Series H 8.75% coupon.
- Mon3May
Entering the spring quarter, AGNC's Q1 report will be evaluated against seasonal mortgage origination trends and their impact on the agency MBS market.
Past
- Wed16Sep
Actual outcome: Bear · $24.74 at outcome
Price reached or fell below bear floor ($25.15) at outcome date.
With the Fed Funds rate sitting at 3.64%, the September FOMC meeting under President Trump's macroeconomic regime will dictate the next leg of yield curve pricing, directly impacting preferred equity valuations.
- Fri24Jul
Actual outcome: Bull · $25.92 at outcome
AGNC reported Q2 EPS of $0.89, exactly matching consensus estimates, which validated the stability of its agency MBS spreads and the common equity buffer. This in-line fundamental performance provided reassurance regarding the safety of the 8.75% preferred dividend, allowing the preferred shares to initially clear the bull target.
AGNC reported Q2 EPS of $0.89, exactly matching consensus estimates, which validated the stability of its agency MBS spreads and the common equity buffer. This in-line fundamental performance provided reassurance regarding the safety of the 8.75% preferred dividend, allowing the preferred shares to initially clear the bull target.
- Sat25Apr
Actual outcome: Bull · $25.33 at outcome
AGNCZ’s catalyst was essentially in line to slightly constructive: Q1 2026 EPS came in at $0.89 versus $0.89 expected, so there was no earnings miss, and the accompanying dividend decision did not raise a red flag for the preferred coupon. With book value/rate sensitivity still the main concern, the lack of a negative surprise and the continued support for the capital stack were enough to keep the preferred around its recent range rather than sell off.
AGNCZ’s catalyst was essentially in line to slightly constructive: Q1 2026 EPS came in at $0.89 versus $0.89 expected, so there was no earnings miss, and the accompanying dividend decision did not raise a red flag for the preferred coupon. With book value/rate sensitivity still the main concern, the lack of a negative surprise and the continued support for the capital stack were enough to keep the preferred around its recent range rather than sell off.
