Why AGNC Investment Stock Fell 13.3% in February

Events in February put a distinct chill on shares of AGNC Investment (NASDAQ: AGNC), a mortgage real estate investment trust (mREIT) that saw its stock price fall by 13.3% during the month, according to data provided by S&P Global Market Intelligence.

That swoon continued a trend for this high-dividend stock that has seen its share price continue a deterioration that began after it hit a 52-week high of $18.84 last June 9. AGNC shares hit a current 52-week bottom of $12.17 on Feb. 24 and have since recovered to about $13.27 on March 3.

As an mREIT, AGNC makes its money through leveraged purchases and sales of residential mortgage-backed securities primarily from Fannie Mae, Freddie Mac, and Ginnie Mae. It pays dividends monthly, and the $0.12 a share it pays out on March 9 will mark its 23rd straight month at that level since cutting the dividend from $0.16 in March 2020. That gives it a current yield of about 10.92%.

Source Fool.com