AG Mortgage raises dividend to $0.20 per share

NEW YORK - AG Mortgage Investment Trust, Inc. (NYSE:MITT), a residential mortgage real estate investment trust (REIT), announced on Monday an increase in its quarterly dividend. The Board of Directors has declared a dividend of $0.20 per common share for the first quarter of 2025, which marks a 5.3% rise from the previous quarter’s dividend of $0.19 per common share. The company currently offers an attractive dividend yield of 10.12% and has maintained dividend payments for 14 consecutive years. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.

This increased dividend is scheduled to be paid on April 30, 2025, to shareholders who are on record as of the close of business on March 31, 2025. TJ Durkin, the Chief Executive Officer and President of AG Mortgage, expressed the company’s intention to continue this trend of dividend growth to reflect the earnings strength of their investment portfolio and their commitment to creating long-term value for shareholders. The company’s strong financial position is evidenced by its healthy current ratio of 8.51, indicating substantial liquidity to meet short-term obligations.

AG Mortgage Investment Trust focuses on a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. market. The trust is managed by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., which is part of the TPG platform and manages approximately $91 billion across various credit and real estate strategies.

The company’s forward-looking statements suggest confidence in their ability to execute their strategy and generate value for shareholders. However, they also acknowledge the presence of risks and uncertainties that could impact their projections, including those detailed in their filings with the Securities and Exchange Commission. The company trades at an attractive P/E ratio of 6.1x and has maintained a gross profit margin of 87.74% in the last twelve months.

The information for this article is based on a press release statement from AG Mortgage Investment Trust, Inc.

In other recent news, AG Mortgage Investment Trust reported its fourth-quarter 2024 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $0.18, missing the forecast of $0.20, and reported revenue of $18.01 million, below the anticipated $18.51 million. Despite the earnings miss, the company’s GAAP EPS was $0.30, surpassing expectations due to net realized gains. Jones Trading maintained its Buy rating on AG Mortgage Investment Trust and raised the price target from $8.00 to $8.50, reflecting confidence in the company’s strategic focus on non-agency platforms and home equity loans. AG Mortgage Investment Trust’s investment portfolio grew by 13% to $6.7 billion, with an economic return on equity of 11.7% for the full year. The company is concentrating on expanding its footprint in the non-QM and home equity markets, which are seen as growth opportunities. Looking ahead, AG Mortgage forecasts EPS growth, with projections of $0.25 for Q1 2025 and $0.29 by Q4 2025, alongside plans to deploy $75-100 million in capital for strategic investments. The company’s strategic direction and market initiatives are being closely monitored by investors as potential drivers of future performance.

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