AGNC Investment PFDs Reviewed: Ratings Revised

Summary AGNC Investment Corp. offers a suite of preferred stocks, each with distinct risk and yield profiles for income-focused investors. Dividend coverage is robust at nearly 13x, but par value coverage has declined to 5.4x due to a doubling of preferred stock outstanding since 2019. AGNCL is a Strong Sell due to its overpriced yield relative to peers, despite remaining call protection. Due to recent FOMC action, I move the rating for the other five preferreds to Hold. Looking for more investing ideas like this one? Get them exclusively at iREIT®+HOYA Capital. Learn More » bymuratdeniz/iStock via Getty Images Introduction AGNC Investment Corp. ( AGNC ) is a Mortgage REIT that offers numerous preferred stocks for income-seeking investors to choose from. These are normally viewed as riskier than preferred stocks from income issuers like banks and This article was written by Retired Investor 9.44K Followers Follow Retired Investor has been investing since the 1980s and has a background in data analysis and pension fund management. He writes articles to help others prepare for retirement by investing in CEFs, ETFs, BDCs, and REITs. He is a long only investor and shares strategies for trading options with a focus on cash-secured-puts. He is a contributing author to the investing group iREIT®+HOYA CapitalThe group helps investors achieve dependable monthly income, portfolio diversification, and inflation hedging. It provides investment research on REITs, ETFs, closed-end funds, preferreds, and dividend champions across asset classes. It offers income-focused portfolios targeting dividend yields up to 10%.Learn more. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.