Yes; they have outperformad all the other Mreits, in earnings, but their SP won't go up. I don't get it; the SP should be $40! Why do NLY, HTS, and others get so high, while AGNC seems stuck under $30?
I believe the market is fearful of additional new share offerings. We are < 2 weeks from announcement of the Q1 dividend. At this same time last qtr, AGNC announced another share offering at a discounted price. Large buyers seem to be holding out for these discounted price events to buy shares. Normally, the stock would be moving up smartly towards the expected dividend announcement date, but AGNC has shown a willingness to sell additional shares at any point in the quarter which causes an overall weakness in the share price. As a shareholder, you never know when your shares are going to be knocked down 15% an hour after the close. I fully agree with AGNC offering additional shares. In this period of rising mortgage rates, new capital is their only realistic tool to purchase bundles of these higher rate mortgages. If AGNC does not do this, they will suffer loss from a drop in value of their existing portfolio as rates go up. May seem counter intuitive, but the guys running AGNC really do know what they are doing.