Like others, ready with a number of buy orders, including a lowball and a really lowball :-), just in case there's a flash crash/overreaction. But, the other thought is that with this SPO possibly bringing in 1.8B to the AGNC coffers, it's only an SPO away from being, I believe, the largest MREIT in terms of market cap, even if NLY can keep its head above 15. As long as they're trading below book, I'm doubting NLY will do an SPO. And from their board, looks like their bag-, I mean, share-holders don't want one. ;-)
SPOs are not suppose to be dilutive to earnings.
The angry part is this SPO done so close to ex-dividend.
In the past dividend goes ex-div 3rd week of month; might be pushed back to last week of March.
If dividend cut to less than $1.25 this will not be expected, given the SPO offering.
AGNC run to over 33 will be hard to come by unless more positive news out there.