Zacks Investment Research upgraded shares of American Capital Agency Corp. (NASDAQ:AGNC) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $22.00 price objective on the real estate investment trust’s stock.
According to Zacks, “American Capital Agency’s current quarter earnings estimate per share moved up over the past 60 days period. In early July, the company acquired its external manager American Capital Mortgage Management, which in turn, is likely to lower the run-rate operating costs. Also, the company’s initiatives to reposition its portfolio for hedging interest rate uncertainty are expected to help it sail through difficulties. Further, its share repurchase program is encouraging for shareholders while its decent financial position is expected to help maintain the growth tempo. However, volatility in the market and issues regarding global economy are concerns before it.”
Several other research firms also recently weighed in on AGNC. JPMorgan Chase & Co. reiterated a neutral rating on shares of American Capital Agency Corp. in a research report on Thursday, August 4th. Bank of America Corp. upgraded American Capital Agency Corp. from an underperform rating to a neutral rating in a research report on Wednesday, June 29th. Citigroup Inc. increased their target price on American Capital Agency Corp. from $18.00 to $19.00 and gave the stock a neutral rating in a research report on Wednesday, August 3rd. Nomura downgraded American Capital Agency Corp. from a buy rating to a neutral rating and set a $21.00 target price on the stock. in a research report on Friday, July 8th. Finally, Keefe, Bruyette & Woods downgraded American Capital Agency Corp. from an outperform rating to a market perform rating and reduced their target price for the stock from $20.25 to $19.75 in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. American Capital Agency Corp. has an average rating of Hold and an average price target of $20.48.
American Capital Agency Corp. (NASDAQ:AGNC) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.22. American Capital Agency Corp. had a positive return on equity of 9.64% and a negative net margin of 103.59%. During the same quarter in the prior year, the firm earned $0.60 EPS.
The firm also recently disclosed a sep 16 dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 28th. This represents a yield of 11.16%. American Capital Agency Corp.’s dividend payout ratio (DPR) is presently -74.48%.
In other American Capital Agency Corp. news, VP Christopher Kuehl sold 153,987 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $19.55, for a total transaction of $3,010,445.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter J. Federico sold 1,643 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $19.76, for a total value of $32,465.68. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC increased its position in American Capital Agency Corp. by 5.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,850 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 277 shares in the last quarter. Invictus RG purchased a new position in American Capital Agency Corp. during the second quarter worth approximately $124,000. Daiwa SB Investments Ltd. increased its position in American Capital Agency Corp. by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 9,490 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 750 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in American Capital Agency Corp. by 2.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,055 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 200 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in American Capital Agency Corp. during the second quarter worth approximately $202,000. 59.79% of the stock is currently owned by institutional investors.
American Capital Agency Corp. Company Profile
American Capital Agency Corp. is a real estate investment trust (REIT). The Company primarily invests on a leveraged basis in agency mortgage-backed securities (agency MBS). The Company’s investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).
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