AGNC plunged by 50%. Only two mortgage REIT analysts warned investors away from shares before it happened.
The market overreacted. While AGNC was too expensive before, they are too cheap now.
Q1 2020 has been very rough on mortgage REITs, but share prices were hammered vastly harder than fundamentals.
AGNC is far from being the cheapest in the sector, but they still need an upgrade.
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