Jim Cramer on AGNC Investment: "It is Not a Growth Vehicle"

AGNC Investment Corp. (NASDAQ:AGNC) is one of the stocks Jim Cramer weighed in on. During the lightning round, when a caller asked about the company, Cramer said:

“No, I don’t like AGNC. I think you’re going to find, over time, you’re just going to get your money, you get the dividend, you’re never sure what they really own. It is not a growth vehicle. I like growth.”

AGNC Investment Corp. (NASDAQ:AGNC) is a real estate investment trust that invests in residential mortgage-backed securities and collateralized mortgage obligations backed by U.S. government agencies. On September 4, the company launched a $300 million offering of 12 million depositary shares, each tied to its 8.75% Series H preferred stock, and underwriters may buy up to 1.8 million more within 30 days. The shares are expected to trade on Nasdaq as “AGNCZ,” and the funds will go toward buying mortgage and real estate-related assets, hedging tools, and other general uses.

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Disclosure: None. This article is originally published at Insider Monkey.