AG Mortgage Investment Trust, Inc. Reports Third Quarter Earnings
AG Mortgage Investment Trust, Inc. (“MITT” or the “Company”) (NYSE: MITT) today reported core earnings of $20.0 million and net income of $61.2 million for the quarter ended September 30, 2012. A reconciliation of core earnings to net income appears at the end of this press release.
See footnotes at the end of this press release
- Net income of $61.2 million, or $3.10 per share (7)
- Core Earnings of $20.0 million, or $1.03 per share
- $0.17 per share increase during the quarter
- includes $0.06 per share of retrospective adjustment
- Net realized gains of $4.1 million, or $0.21 per share
- $0.77 per share common dividend for the quarter
- $0.07 per share increase
- Approximately $1.19 per share of undistributed taxable income as of September 30, 2012 (1)
- $23.71 net book value per share as of September 30, 2012 (1)
- $1.93 per share increase during the quarter, net of the $0.77 dividend declared for the quarter and paid on October 26, 2012
- 40.9% annualized year-to-date return on stock as of September 30, 2012
- 12.8% return on equity during the quarter (2)
- Raised approximately $327.5 million of gross proceeds through common and preferred stock offerings during the quarter
- $4.9 billion investment portfolio value as of September 30, 2012 (3) (5)
- 2.41% net interest margin as of September 30, 2012 (4)
- 6.06x leverage as of September 30, 2012 (3) (8)
- 80.3% Agency RMBS investment portfolio (5)
- 19.7% credit investment portfolio, comprised of Non-Agency RMBS, ABS and CMBS assets (5)
- 6.2% constant prepayment rate (“CPR”) for the third quarter on the Agency RMBS investment portfolio (6)
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