dave mckay

Mortgage REITs: Real Value in a Chaotic Market

I'm pretty sure the drop in AGNC following the quarterly results had to do with their announcement that they are going to increase the leverage from 5x to 7x, which is where Annaly is at. To do this increase in leverage, AGNC will probably do a secondary stock offering. This is what caused the drop. If you read the conference call transcript, an analyst somewhat points this out.