I typically stay away from mortage REIT as it is complicated to evaluate them. Unlike equity-backed REIT, mortage REIT is highly highly depenent on overall economy, mortage market, and interest rate spread (for example, sometimes, even with Fed cutting rate, some mortageg REIT may not do well if the spread becomes smaller for them). Anyway, I never invest there simply because I dont understand that industry.
Looking at AGNC specifcially, suggest to find out why they have been cutting dividend since 2015. Its stock price does look very compressed, so it is possible lot of bad news are priced in and might be a good play if you know that industry and have relative confidence that this company can benefit from the upcoming Fed rate cut cycle
