JMP's Delaney rings the register on American Capital Agency

• The mortgage REIT sector receives its first notable downgrade in awhile, with JMP's Steve Delaney downgrading American Capital Agency (AGNC +0.2%) to Market Perform.
• The stock's ahead 16% YTD along with a dividend yield of nearly 12%. AGNC, along with the rest of the sector, is lower since Labor Day, but did gain over the past couple of weeks as money exited the broader equity market, and expectations for rate hikes evaporated.
• Q3 earnings results are due on October 27.