AG Mortgage Investment Trust: Stocks Selling Off As Rates Move Wildly
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AG Mortgage Investment Trust, Inc. reported a net income of $0.40 per share, but its earnings available for distribution ($0.17) fell short of covering the $0.19 dividend. Despite volatile interest rates, the company achieved a 3.9% economic return on equity and a net interest rate spread of 0.6%. The stock is trading at a significant discount-to-book value, with a price target of $8.
November 05, 2024 | 7:45 pm
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AG Mortgage Investment Trust reported a net income of $0.40 per share, but its earnings available for distribution ($0.17) did not cover the $0.19 dividend. Despite this, the company achieved a 3.9% economic return on equity and a net interest rate spread of 0.6%. The stock is trading at a significant discount-to-book value, with a price target of $8.
The report indicates that while MITT's earnings available for distribution did not cover the dividend, the company still delivered a strong economic return on equity. The stock's significant discount-to-book value and a price target of $8 suggest potential upside, making it an attractive investment opportunity despite the earnings shortfall.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100