AGNC Investment Recoups Its COVID-19-Related Losses
The market dislocations from the early days of the COVID crisis are largely in the rearview mirror, and the mortgage real estate investment trusts (mREITs) have mostly adjusted to the situation. With interest rates so low, income can be hard to obtain, and it's creating situations where mREIT companies are often generating double-digit dividend yields. Why that's happening and what it really means are worth understanding.
The most conservative of these mREIT stocks, AGNC Investment (NASDAQ: AGNC), just reported that it has nearly put the crisis behind it. Does that mean a dividend hike could be in its near future?
AGNC Investment reported earnings of $1.28 per share for the third quarter ending Sept. 30. This is a decrease from the second quarter, where the company earned $1.60 per share. In the press release, CEO Gary Kain offered further insight on this particular metric, saying that AGNC had "nearly reversed" the economic loss in the first quarter stemming from the market dislocations associated with COVID-19.
Source Fool.com
