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AG Mortgage Investment Trust, Inc. (symbol: MITT) is a publicly traded real estate investment trust (REIT) that specializes in investing in a diversified portfolio of residential mortgage-related assets in the U.S. mortgage market. The company's primary objective is to deliver attractive risk-adjusted returns to its stockholders over the long term via dividends and capital appreciation. MITT is notably involved in acquiring and managing residential mortgage-backed securities (RMBS) that are issued or guaranteed by government-sponsored enterprises.
AG Mortgage Investment Trust, Inc. has built a robust portfolio that benefits from the stability and predictability of the residential mortgage market. Its investments include a range of mortgage-backed securities that provide a balance between risk and return. By focusing on high-quality, government-backed securities, MITT ensures a level of security and reliability in its earnings, which is further enhanced by strategic asset diversification.
In recent years, the company has made significant strides in expanding its asset base and optimizing its investment strategies to adapt to market fluctuations. It maintains a disciplined investment approach to manage interest rate risk and credit risk effectively. This strategy has allowed MITT to sustain a steady flow of income and dividends to its shareholders, even amidst market volatility.
Moreover, AG Mortgage Investment Trust, Inc. collaborates with various financial institutions and partners to enhance its investment capabilities and market reach. These partnerships enable MITT to source high-quality assets and leverage expertise in mortgage investment management, thus creating value for its stockholders.
The company's financial strength is underscored by its solid balance sheet, prudent financial management, and commitment to transparency and corporate governance. AG Mortgage Investment Trust, Inc. remains dedicated to maximizing shareholder value by continuously seeking opportunities to refine its investment portfolio and improve operational efficiency.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) successfully completed a 1-for-3 reverse stock split on July 22, 2021. This action reduced the number of outstanding shares from approximately 48.5 million to 16.2 million, while the company’s stock will continue to trade under the symbol "MITT" on the NYSE. No fractional shares were issued; instead, cash will be provided for any fractional entitlements. Stockholders will receive detailed information from American Stock Transfer & Trust Company regarding their ownership following this split.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) has announced a 1-for-3 reverse stock split approved by its Board of Directors, effective after July 22, 2021. This means that three shares will convert into one. The trading of the common stock will begin on a post-split basis on July 23, 2021, under a new CUSIP number. Stockholders will receive cash for any fractional shares instead of receiving those shares. The split does not impact stockholders' ownership percentages, except for minor adjustments from cash payments.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) declared a dividend of $0.07 per common share for Q2 2021, payable on July 30, 2021 to shareholders on record by June 30, 2021. The company focuses on a diversified portfolio of Credit Investments and Agency RMBS, managed by AG REIT Management, a subsidiary of Angelo Gordon & Co. With a strategy aimed at risk-adjusted investments, AG Mortgage Investment Trust plays a significant role in the mortgage REIT sector, enhancing potential returns for its shareholders.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) announced the declaration of second quarter 2021 preferred stock dividends. The Board declared a cash dividend of $0.51563 per share for its 8.25% Series A Cumulative Redeemable Preferred Stock, $0.50 for its 8.00% Series B Cumulative Redeemable Preferred Stock, and $0.50 for its 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. These dividends are payable on June 17, 2021 to shareholders on record as of May 28, 2021.
AG Mortgage Investment Trust, Inc. (MITT) reported financial results for Q1 2021, showing a Book Value of $4.92 and an Adjusted Book Value of $4.76 per share, up from $4.13 and $3.94 at the end of 2020. The Quarterly Economic Return was 22.3%. However, Net Income per diluted common share decreased to $0.91 from $1.16 in Q4 2020, while Core Earnings fell to $0.08 from $0.22. The investment portfolio grew to $1.9 billion, focusing on residential investments. The company raised $10 million through a share issuance.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) will release its first quarter 2021 financial results on May 6, 2021, before market open. A conference call to discuss these results will follow at 8:30 a.m. Eastern Time on the same day. Interested parties can join the call by dialing (888) 424-8151 or for international calls at 1 (847) 585-4422, using passcode 9351 300. A presentation will be available on the Company's website prior to the call, with an audio replay accessible from May 7 to June 5, 2021.
AG Mortgage Investment Trust (NYSE: MITT) has declared a dividend of $0.06 per common share for Q1 2021. This dividend is scheduled for payment on April 30, 2021, to shareholders on record as of the close on April 1, 2021. The company focuses on a diversified portfolio of Credit Investments and Agency RMBS, managed by AG REIT Management, a subsidiary of Angelo Gordon & Co.
AG Mortgage Investment Trust, Inc. (MITT) reported a net income of $1.16 per diluted share for Q4 2020, a significant increase from $0.44 in Q3 2020. Core earnings were $0.22 per share. As of December 31, 2020, the company's book value per share rose to $4.13, with an adjusted book value of $3.94, showing growth from previous quarters. The company reinstated its common dividend at $0.03 per share. Arc Home, in which MITT has a stake, achieved 136% year-over-year growth in origination volume, contributing to MITT's strong performance.
AG Mortgage Investment Trust (NYSE: MITT) has declared its first quarter 2021 preferred stock dividends. The Board announced a cash dividend of $0.51563 per share for the 8.25% Series A Cumulative Redeemable Preferred Stock, $0.50 for the 8.00% Series B Cumulative Redeemable Preferred Stock, and $0.50 for the 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. These dividends are payable on March 17, 2021 to shareholders of record as of February 26, 2021.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) will release its fourth quarter 2020 financial results before the market opens on February 19, 2021. A conference call to discuss these results is scheduled for the same day at 8:30 a.m. ET. Participants can join the call by dialing (888) 424-8151 or 1 (847) 585-4422 for international calls, using passcode 6358 711. An audio replay will be available after the call until March 21, 2021. Detailed information can be found on the Company's website.
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