AG Mortgage Investment Trust (MITT) Reports In-Line Q4 EPS

AG Mortgage Investment Trust (NYSE: MITT) reported Q4 EPS of $0.50, in-line with the analyst estimate of $0.50. Revenue for the quarter came in at $0 versus the consensus estimate of $21.92 million.

Fourth Quarter 2017:

• $0.74 of Net Income/(Loss) per diluted common share(1)
• $0.50 of Core Earnings per diluted common share(1)
  • Includes de minimus retrospective adjustment
  • Includes $0.02 of dollar roll income associated with our net TBA position
• 3.9% economic return on equity for the quarter, 15.6% annualized(4)
• $19.62 book value per share(1) as of December 31, 2017, inclusive of our current quarter $0.475 common dividend
  • Book value increased $0.27 or 1.4% from last quarter, inclusive of:
    • $0.30 or 1.6% due to our Credit Investments
      • Strong demand and stable fundamentals drove spreads for most mortgage-backed credit sectors tighter
    • $(0.05) or (0.3)% due to our investments in Agency RMBS and associated derivative hedges
      • Agency basis tightening was offset by an increase in interest rates
    • $0.02 or 0.1% due to core earnings above the $0.475 dividend

For earnings history and earnings-related data on AG Mortgage Investment Trust (MITT) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Morgan Stanley sees little room left in steel rally, cuts Cleveland-Cliffs rating
• Accenture downgraded by TD Cowen on AI concerns