AGNC Stock Price Falls Below $10 as Rising Treasury Yields Hit Mortgage REITs
AGNC Investment Corp. shares fell 5.3% to $9.75 Friday as a surge in Treasury yields hit mortgage REITs. The S&P 500 dropped 1.5% and the average U.S. 30-year fixed mortgage rate rose to 6.22%. AGNC’s dividend stands at $0.12 a share for March, but the stock remains about 10% above its December 31 tangible book value.