AGNC Investment Corp. (Nasdaq: AGNC) is one of the most requested stocks in the Safety Net column because of its high yield. Today, the mortgage broker yields 14%, so you can understand why it's so popular. But does it deserve its adulation from the income investing crowd? More importantly, can those investors rely on that juicy 14% yield? When I last looked at AGNC's dividend safety in January, the company had not yet reported fourth quarter 2022 results. At that time, net interest income (NII) was forecast to be $1.5 billion for 2022, falling to $1.3 billion in 2023. AGNC didn't come close to hitting last year's projection. NII totaled $965 million, down from $1.29 billion the year before. The good news is that NII is now expected to rise to $1.37 billion this year. |
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