AG Mortgage Investment Trust, Inc. Announces First Quarter 2024 Common Dividend of $0.18 per Share

Rhea-AI Summary

AG Mortgage Investment Trust, Inc. (NYSE: MITT) declares a dividend of $0.18 per common share for the first quarter of 2024, payable on April 30, 2024. Shareholders of record as of March 29, 2024, will receive the dividend.

Insights

Financial Analyst

The announcement of a dividend payout, such as the one declared by AG Mortgage Investment Trust, Inc., is a tangible reflection of the company's current financial health and its ability to generate cash flow. Dividends are often seen as a sign of corporate stability and maturity and they can influence investor perception. The declared dividend of $0.18 per common share provides a quantifiable return to shareholders and could be a positive signal to the market, potentially affecting the stock's attractiveness to income-focused investors.

However, it is important to scrutinize the sustainability of such dividends. One must look at the company's payout ratio, which is the proportion of earnings paid out as dividends to shareholders. If this ratio is too high, it may suggest that the company is not reinvesting enough back into its operations, which could impede future growth. Conversely, a lower payout ratio could indicate that the company has room to grow its dividend or reinvest in its business.

Market Research Analyst

From a market research perspective, the sector in which AG Mortgage Investment Trust operates — real estate investment trusts (REITs) — traditionally offers higher dividend yields compared to other sectors. Investors often turn to REITs for consistent income, particularly in low-interest-rate environments. Therefore, the dividend announcement may reinforce the company's position within its sector and appeal to a specific segment of the market.

It is also essential to compare the announced dividend yield with the industry average to evaluate its competitiveness. A significantly higher or lower yield could indicate an adjustment in the company's strategy or a response to market conditions. Moreover, historical dividend trends and the company's financial performance relative to its peers could provide deeper insights into the long-term viability of its dividend program.

NEW YORK--(BUSINESS WIRE)-- AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company”) announced that its Board of Directors has declared a dividend of $0.18 per common share for the first quarter 2024. The dividend is payable on April 30, 2024 to shareholders of record at the close of business on March 29, 2024.

About AG Mortgage Investment Trust, Inc.

AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG.

Additional information can be found on the Company’s website at www.agmit.com.

About TPG Angelo Gordon

Founded in 1988, Angelo, Gordon & Co., L.P. (“TPG Angelo Gordon”) is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $78 billion* across a broad range of credit and real estate strategies. For more information, visit www.angelogordon.com.

*TPG Angelo Gordon’s currently stated assets under management (“AUM”) of approximately $78 billion as of December 31, 2023 reflects fund-level asset-related leverage. Prior to May 15, 2023, TPG Angelo Gordon calculated its AUM as net assets under management excluding leverage, which resulted in TPG Angelo Gordon AUM of approximately $53 billion as of December 31, 2022. The difference reflects a change in the TPG Angelo Gordon’s AUM calculation methodology and not any material change to TPG Angelo Gordon’s investment advisory business. For a description of the factors TPG Angelo Gordon considers when calculating AUM, please see the disclosure linked here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240315168066/en/

AG Mortgage Investment Trust, Inc.

Investor Relations

(212) 692-2110

ir@agmit.com

Source: AG Mortgage Investment Trust, Inc.

FAQ

What dividend has AG Mortgage Investment Trust, Inc. (MITT) declared for the first quarter of 2024?

AG Mortgage Investment Trust, Inc. (MITT) has declared a dividend of $0.18 per common share for the first quarter of 2024.

When will the dividend declared by AG Mortgage Investment Trust, Inc. (MITT) for the first quarter of 2024 be payable?

The dividend declared by AG Mortgage Investment Trust, Inc. (MITT) for the first quarter of 2024 will be payable on April 30, 2024.

Who will receive the dividend declared by AG Mortgage Investment Trust, Inc. (MITT) for the first quarter of 2024?

Shareholders of record as of March 29, 2024, will receive the dividend declared by AG Mortgage Investment Trust, Inc. (MITT) for the first quarter of 2024.