AG Mortgage Investment Trust (NYSE:MITT) Issues Earnings Results

Key Points

• AG Mortgage reported adjusted EPS of $0.26, beating estimates and producing earnings available for distribution that cover the newly raised quarterly dividend of $0.24 (a 12.5% yield), though the dividend payout ratio is elevated at about 109%.
• The company’s book value fell 4.9% to $9.97 and GAAP net loss was roughly $8.7M driven by March unrealized portfolio losses, but management said about half of that decline recovered by April; the stock traded down ~6.5% to $7.66.
• Management is executing a shift into higher‑return residential assets—securitizing ~$500M of home equity loans (plus a subsequent ~$430M deal) and growing ArcHome (56% owned, contributed ~$0.04 to EAD with $1.3B lock volume)—while portfolio credit metrics remain strong (serious delinquencies ~1.3% non‑agency, 0.4% home equity; avg LTV ~low‑60s%).

AG Mortgage Investment Trust (NYSE:MITT - Get Free Report) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.01, FiscalAI reports. The firm had revenue of $6.47 million during the quarter, compared to the consensus estimate of $22.04 million. AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.42%.

Here are the key takeaways from AG Mortgage Investment Trust's conference call:

• The company's book value fell 4.9% to $9.97 in Q1 and GAAP net loss was about $8.7M, driven by March unrealized portfolio losses, though management says at least 50% of that decline had recovered by April.
• Earnings available for distribution (EAD) was $0.26—enough to cover the newly raised quarterly dividend of $0.24 (the fourth increase since early 2025) and management said it intends to continue passing earnings through to shareholders.
• TPG MIT is executing its strategy into higher-return residentials, securitizing ~$500M of home equity loans (plus a subsequent ~$430M non‑agency deal) and growing ArcHome (now 56% owned), which contributed ~$0.04 to EAD and reported lock volumes of $1.3B (up 25% YoY).
• Portfolio credit metrics remain strong with serious delinquencies of 1.3% in non‑agency and 0.4% in home equity, and an average loan‑to‑value around the low 60% range, supporting confidence in underlying asset performance.
• Management is de‑risking legacy WMC commercial holdings (retail sale progressing; 2 of 4 hotels have LOIs) with financing extended through September and expects some exits by year‑end (others may slip into 2027); the company ended Q1 with about $100M of total liquidity to redeploy but timing and final outcomes remain uncertain.

AG Mortgage Investment Trust Trading Down 6.5%

NYSE MITT traded down $0.53 on Wednesday, hitting $7.66. 383,069 shares of the company were exchanged, compared to its average volume of 261,278. The company's 50 day moving average price is $7.81 and its 200-day moving average price is $8.08. The company has a debt-to-equity ratio of 21.38, a current ratio of 10.33 and a quick ratio of 10.33. The firm has a market capitalization of $243.03 million, a P/E ratio of 8.70 and a beta of 1.69. AG Mortgage Investment Trust has a twelve month low of $6.33 and a twelve month high of $9.27.

AG Mortgage Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 12.5%. The ex-dividend date is Tuesday, March 31st. This is a boost from AG Mortgage Investment Trust's previous quarterly dividend of $0.23. AG Mortgage Investment Trust's dividend payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MITT. Citizens Jmp upped their price objective on shares of AG Mortgage Investment Trust from $8.50 to $9.25 and gave the stock a "market outperform" rating in a report on Thursday, January 22nd. Credit Suisse Group set a $9.25 price objective on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. JonesTrading upped their price objective on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Citigroup reaffirmed an "outperform" rating on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of AG Mortgage Investment Trust in a report on Friday, April 17th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, AG Mortgage Investment Trust presently has a consensus rating of "Moderate Buy" and an average target price of $9.25.

Institutional Trading of AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of AG Mortgage Investment Trust by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 710,876 shares of the real estate investment trust's stock valued at $6,059,000 after purchasing an additional 11,707 shares during the period. State Street Corp boosted its position in AG Mortgage Investment Trust by 2.2% during the fourth quarter. State Street Corp now owns 576,088 shares of the real estate investment trust's stock valued at $5,038,000 after purchasing an additional 12,581 shares during the last quarter. Millennium Management LLC acquired a new stake in AG Mortgage Investment Trust during the fourth quarter valued at $2,002,000. Janney Montgomery Scott LLC grew its stake in AG Mortgage Investment Trust by 2.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 193,383 shares of the real estate investment trust's stock valued at $1,648,000 after purchasing an additional 5,033 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in AG Mortgage Investment Trust by 33.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 152,939 shares of the real estate investment trust's stock worth $1,303,000 after purchasing an additional 38,189 shares during the last quarter. Institutional investors and hedge funds own 27.32% of the company's stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).

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