AGNC Investment's preferred shares yield 8.75%, offering safer income than common shares amid book value erosion.

AGNC Investment Corp., a mortgage real estate investment trust focusing on agency-backed mortgage securities, faces ongoing book value erosion in its common shares. However, its Series E preferred shares yield 8.75%, providing better capital preservation and lower risk of dividend cuts. Recent quarters show improved net interest income driven by a 4.98% asset yield and reduced borrowing costs of 3.79%. AGNC's prudent leverage and increased hedging help mitigate interest rate risks, supporting income stability for preferred shareholders.