AG Mortgage Investment Trust ( (MITT) ) has released its Q3 earnings. Here is a breakdown of the information AG Mortgage Investment Trust presented to its investors.
AG Mortgage Investment Trust, Inc. is a residential mortgage REIT focusing on investing in a diversified portfolio of residential mortgage-related assets within the U.S. mortgage market. The company is managed by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform.
In its third quarter of 2024 results, AG Mortgage Investment Trust reported a strong economic return on equity of 3.9%, with a net income of $0.40 per diluted common share. The company’s strategic focus remains on originating and securitizing residential whole loans, supported by ample liquidity and a disciplined approach to leverage.
Key highlights from the quarter include a book value per share of $10.58 and an investment portfolio valued at $6.8 billion, alongside a net interest margin of 0.6%. The company also declared a quarterly dividend of $0.19 per common share, reflecting its commitment to returning value to shareholders. Additionally, AG Mortgage Investment Trust maintained significant liquidity of $119.7 million and reported a GAAP leverage ratio of 11.8x.
Looking ahead, AG Mortgage Investment Trust aims to capitalize on new opportunities within the residential mortgage sector. The company’s management remains confident in its strategic direction, emphasizing a continued disciplined approach to leverage and investment to enhance earnings potential for shareholders.
