AGNC Investment Corp. Depositary Shares Each Representing a 1/1000th Interest in a Share of 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock (AGNCZ)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach AGNCZ as a preferred claim, not as a common stock. The parent, AGNC Investment Corp., owns agency mortgage-backed securities, so credit risk is largely government-backed; the real risks are leverage, duration, prepayment, and financing spreads. It is essentially a spread lender, not a wide-moat franchise. The filed numbers are volatile: in fiscal Q2 2026, the quarter ended 2026-06-30, net income was $654M and diluted EPS $0.52; in fiscal Q1 2026, the quarter ended 2026-03-31, it lost $148M and EPS was -$0.17. Fiscal Q3 2025 earned $806M, or $0.72 per diluted share, while fiscal Q2 2025 lost $140M, or -$0.17. FY2025 net income was $1.7B, FY2024 $863M and FY2023 $155M. FairStock labels this a turnaround, and its calculated ROE is 19.80%, but ROCE is only 2.02% and D/E is 7.17. Its calculated P/B is 2.65 for the parent common, not the preferred. The Piotroski F-Score is 4/9, and the FairStock Score is 66/100. The 9.08% yield at the 2026-10-13 close of $24.10 is attractive relative to the 8.75% coupon, and cumulative preferred dividends sit above common equity. But no CET1, NIM, or combined ratio is provided; for this issuer, I would want preferred dividend coverage, book value, and refinancing access. The price looks fair, perhaps modestly cheap, but the margin of safety is not large enough to ignore the leverage and earnings swings. Growth figures of 710.71% revenue and 567.14% profit are FairStock calculations off a volatile base and should not be extrapolated.

In plain English: AGNC invests in U.S. government-backed home loans and related securities, and the Series H preferred shares pay a fixed 8.75% dividend. The parent company's profits have been up and down, and it uses a lot of borrowed money, so the preferred dividend looks high but not risk-free. At $24.10 on 2026-10-13, the 9.08% yield looks roughly fair to modestly cheap for a preferred, not a screaming bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer