This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AG Mortgage Investment Trust, Inc. Reports Third Quarter Earnings

Core Earnings are defined by the Company as net income excluding both realized and unrealized gains (losses) on the sale or termination of securities, including underlying linked transactions and derivatives. As defined, Core Earnings include the net interest earned on these transactions, including credit derivatives, linked transactions, inverse Agency securities, interest rate derivatives or any other investment activity that may earn net interest. One of the objectives of the Company is to generate net income from net interest margin on the portfolio and management uses Core Earnings to measure this objective.

A reconciliation of GAAP net income to Core Earnings for the three and nine months ended September 30, 2012, and for three months ended September 20, 2011 and the period from March 7, 2011 to September 30, 2011 is set forth below:
        Period from
Three Months Ended Three Months Ended Nine Months Ended March 7, 2011 to
September 30, 2012 September 30, 2011 September 30, 2012 September 30, 2011
Net Income available to common stockholders $ 60,430,279 $ 13,217,042 $ 116,298,495 $ 13,201,224
Add (Deduct):
Net realized gain (4,105,323 ) (4,291,139 ) (14,087,123 ) (4,291,139 )
Gain on linked transactions, net (6,688,111 ) (204,727 ) (13,492,268 ) (204,727 )
Net interest income on linked transactions 2,917,262 345,909 6,861,434 345,909
Unrealized loss on derivative instruments, net 13,371,486 6,562,093 26,793,133 6,562,093
Unrealized gain on real estate securities   (45,917,570 )     (9,694,455 )     (78,755,229 )     (9,694,455 )
Core Earnings $ 20,008,023 $ 5,934,723 $ 43,618,442 $ 5,918,905
Core Earnings, per Diluted Share $ 1.03 $ 0.63 $ 2.65 $ 1.43


(1) Per share figures are calculated using a denominator of all outstanding shares including all shares granted to our Manager and our independent directors under our equity incentive plans as of quarter end. Net book value uses stockholders’ equity less net proceeds of the Company’s 8.25% Series A and 8.00% Series B Cumulative Redeemable Preferred Stock as the numerator.

8 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.31 -1.60%
FB $116.80 0.06%
GOOG $692.00 0.14%
TSLA $246.37 -0.54%
YHOO $36.40 -0.52%


Chart of I:DJI
DOW 17,734.30 -96.46 -0.54%
S&P 500 2,064.27 -11.54 -0.56%
NASDAQ 4,781.1390 -24.1520 -0.50%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs