5 Best Stocks to Buy According to Ron Mass’ Almitas Capital

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1. AGNC Investment Corp. (NASDAQ:AGNC)

Almitas Capital’s Stake Value: $22,555,000

Percentage of Almitas Capital’s 13F Portfolio: 11.65%   

Number of Hedge Fund Holders: 18

Almitas Capital more than doubled its stake in AGNC Investment Corp. (NASDAQ:AGNC) by 116% to 2 million shares, propelling the company to the top spot in the fund’s 13F portfolio at the end of June. Having gone through Almitas Capital’s other top picks, it wouldn’t surprise the readers that even AGNC Investment Corp. (NASDAQ:AGNC) is a REIT that flaunts a very high dividend yield. However, the stock’s high dividend yield hasn’t helped it claim the same popularity among smart money investors as it did two years ago. Amongst the hedge funds covered by Insider Monkey, the number of funds that disclosed a stake in AGNC Investment Corp. (NASDAQ:AGNC) fell by half to 19 at the end of June this year from 38 at the end of June 2020.

On August 7, through a press release, the company announced that for gross proceeds of $150 million, it had priced a public offering of 6,000,000 depositary shares with a liquidation preference of $25.00 per share. Each of the depositary shares issued by AGNC Investment Corp. (NASDAQ:AGNC) represents a 1/1,000th interest in a share of the company’s 7.75% Series G Fixed-Rate Reset Cumulative Redeemable Preferred Stock. In June, analysts at Keefe, Bruyette & Woods upgraded the stock to ‘Outperform’ from ‘Market Perform’ and also upped their price target to $13.25 from $12.25.

You can also look at 5 Best Stocks to Buy According to ‘Warren Buffett of Brazil’ and BlueDrive Global Investors’ Latest Portfolio: Top 7 Stock Picks

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