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AG Mortgage Investment Trust (NYSE: MITT) announced its inclusion in the Russell 3000® Index, effective July 1, 2024. The preliminary list was released by FTSE Russell on May 24, 2024. CEO TJ Durkin highlighted that this milestone reflects MITT's growth efforts and promises increased visibility. Membership in the Russell 3000® Index ensures automatic inclusion in either the Russell 1000® or Russell 2000® Index, impacting asset management strategies that benchmark approximately $10.5 trillion. The inclusion is expected to provide broader exposure and attract more investors to MITT.
AG Mortgage Investment Trust (MITT) has closed a public offering of $65 million in senior notes, due 2029, with an interest rate of 9.500%. The notes are expected to start trading on the NYSE under the symbol 'MITP' on May 20, 2024. This follows a $34.5 million bond offering in January, addressing the maturity of legacy WMC convertible notes due in September. CEO TJ Durkin emphasized the company's focus on proving the sustainability of their portfolio's earnings while optimizing capital structure. The offering was managed by several major financial firms and executed under an effective shelf registration statement with the SEC.
AG Mortgage Investment Trust, Inc. announced the pricing of a $65 million public offering of 9.500% senior notes due 2029. The Notes have received an investment grade rating of BBB- from Egan-Jones Ratings Company. The Company plans to use the net proceeds for general corporate purposes, including acquisition of Residential Investments and Agency RMBS.
AG Mortgage Investment Trust, Inc. reported its financial results for the first quarter of 2024, showing positive growth in book value, adjusted book value, and economic return on equity. The company highlighted the benefits of the acquisition of WMC and its focus on residential mortgage REIT. MITT also shared investment, financing, and capital market highlights, including strategic sales, financing details, and liquidity. The company announced dividends for preferred stock and common stockholders. Management expressed confidence in delivering strong earnings and enhancing scale and efficiencies.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) schedules the release of its first quarter 2024 financial results on May 3, 2024, followed by a conference call to discuss the results. Investors can participate in the call by dialing the provided numbers or accessing the live webcast. An audio replay will also be available for those unable to listen to the call.
