Is AGNC Investment's Stock a Buy?
Rising interest rates led to a collapse in mortgage originations, and mortgage-backed securities have been out of favor among investors for the past 15 months or so. Mortgage real estate investment trusts (mREITs) were beset by declining asset values and have had to cut dividends. Under these circumstances, is AGNC Investment (NASDAQ: AGNC) -- the best known mortgage REIT -- a buy?