TPG Mortgage Investment Trust Inc Stock Price, News & Analysis

AG Mortgage Investment Trust, Inc. (NYSE: MITT) has declared a dividend of $0.21 per common share for Q3 2021. The dividend will be payable on October 29, 2021 to shareholders on record as of September 30, 2021. The company focuses on diversified investments in Credit Investments and Agency RMBS, managed by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., which manages approximately $44 billion in assets. For more information, visit www.agmit.com.

AG Mortgage Investment Trust, Inc. (NYSE: MITT) announced that it has fully repaid Commercial Loan K, resulting in net proceeds of $20.1 million. This repayment contributes an additional $0.07 per share to the Company’s book value of $15.18 as of June 30, 2021. The Company aims to reallocate capital towards its Residential Credit origination business. President T. J. Durkin highlighted this as a milestone in transitioning to a pure play residential credit mortgage REIT, which will enhance liquidity for further investment opportunities.

AG Mortgage Investment Trust, Inc. (MITT) reported its Q2 2021 financial results, showcasing a 3% increase in Adjusted Book Value to $14.72 per share. Key highlights include a $2.0 billion investment portfolio and a 4.6% economic return. The company purchased $446 million in Non-QM loans and maintained a 2.2x economic leverage ratio. Total liquidity rose to $70.8 million. However, net income fell sharply to $0.70 per share, down from $2.74 in the previous quarter.

AG Mortgage Investment Trust, Inc. (NYSE: MITT) will release its second quarter 2021 financial results on July 30, 2021, before market open. A conference call to discuss these results is scheduled for the same day at 8:30 a.m. Eastern Time. Participants can join the call by dialing 1 (888) 424-8151 or 1 (847) 585-4422 for international calls, using passcode 7868 403. An audio replay will be available from July 31 through August 29, 2021. The Company invests in a diversified portfolio of Credit Investments and Agency RMBS.

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.