I do not expect a spo:
AGNC is buying back shares.
Would the current price be high enough, with discount, to be accretive to book?
Is it getting too late into the quarter for management to put the new money to work quickly enough to pay for the newly minted share's upcoming dividend?
Will there be enough demand for shares by new or additional REIT investors, at this, or a reasonable price to current shareholders, not to risk driving the share price even further down?
Last year, AGNC skipped a 1st quarter spo and reduced its dividend by .15.
I believe the same thing will occur this year as well, imo.