What Is Book Value? 2 Mortgage REIT Stocks That Were Trading Close to It Until They Weren't

Mortgage REITs AGNC Investment and Annaly Capital experienced sharp stock price declines of 16% and 18% respectively over three months as rising interest rates pressured bond values. Both companies saw their tangible book values drop significantly in Q3 2026—AGNC fell 17% to $7.13 per share and Annaly dropped 11% to $17.86 per share—highlighting the material risks of mREIT investing despite their attractive 16%+ dividend yields.