How the Federal Reserve Has Helped AGNC Investment
The COVID-19 crisis has been particularly unkind to the mortgage real estate investment trust (REIT) sector. In March and April, the financial markets tightened up and mortgage REITs were peppered with margin calls, which caused forced selling, decreased book values, and forced every mREIT to cut its dividend. It looks like the worst is over and the sector is in recovery mode. AGNC Investment Corp. (NASDAQ: AGNC) recently gave an update on where things stand.
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In the company's earnings press release on July 27, AGNC CEO Gary Kain had this to say about the quarter:
Source Fool.com
