AG Mortgage reports Q2 adjusted EPS 21c, consensus 26c

Reports $10.37 adjusted book value per share as of June 30, 2024 vs. $10.58 as of March 31, 2024. “Our Q2 financial results show the continued execution of our core business strategy and the compelling benefits of our recent WMC acquisition. We generated $0.21 per share of EAD during the quarter, covering our newly set $0.19 per share dividend, which represented a 5.6% increase from the prior quarter’s dividend,” said TJ Durkin, CEO. “Notably, as a result of our successfully executed $65 million follow-on senior unsecured notes offering in May, we efficiently addressed the September WMC convertible notes maturity with a more advantageous debt structure and ended the quarter by gaining entry in the Russell 3000 Index. We continue to have confidence in our investment portfolio performance and our ability to create long-term value for our stockholders.”