AG Mortgage Investment announces preferred stock dividends

AG Mortgage Investment Trust, Inc. (NYSE:MITT), a real estate investment trust with a market capitalization of $215.7 million, declared dividends for its preferred stock on Monday, February 14, 2025. The announcement detailed quarterly cash dividends for the company’s 8.25% Series A, 8.00% Series B, and 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. According to InvestingPro data, the company has maintained dividend payments for 14 consecutive years, demonstrating a strong commitment to shareholder returns.

Shareholders of the Series A stock will receive a dividend of $0.51563 per share, while Series B stockholders are set to receive $0.50 per share. Series C stockholders will be paid $0.693062 per share. These dividends are payable on March 17, 2025, to shareholders on record as of February 28, 2025. The company currently trades at $7.36 per share with a notably low P/E ratio of 3.47, and InvestingPro analysis indicates the stock is currently undervalued.

The declaration of these dividends reflects the company’s commitment to delivering value to its preferred shareholders. AG Mortgage Investment Trust specializes in real estate and is incorporated in Maryland. The company’s common and preferred stocks are traded on the New York Stock Exchange under the symbols MITT, MITT PrA, MITT PrB, and MITT PrC, respectively.

The dividend announcement is based on a press release statement and is in accordance with the company’s ongoing financial practices. Preferred stock dividends are a common way for investment trusts to distribute earnings to investors, and AG Mortgage Investment Trust has maintained a consistent approach to these payouts.

Investors in real estate investment trusts often seek stable income through dividend distributions, and this latest announcement from AG Mortgage Investment Trust will likely be well-received by its preferred shareholders. The company has not provided any additional information regarding its financial performance or operational strategies in this filing.

This dividend declaration is a routine financial activity for AG Mortgage Investment Trust and is part of its regular fiscal calendar. It is important for investors to note that the dividends are subject to customary conditions and the company’s financial health, which InvestingPro rates as "GOOD" with strong liquidity metrics showing that liquid assets exceed short-term obligations. For deeper insights into MITT’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

In other recent news, JMP Securities has adjusted its price targets for MFA Financial (NYSE:MFA), Inc. and Redwood (NYSE:RWT) Trust, Inc. in anticipation of the upcoming earnings season for mortgage REITs. The price target for MFA Financial was reduced to $12.50 from $13.50, while Redwood Trust saw a decrease to $8.00 from $9.00. These adjustments are part of a broader industry analysis that predicts a decline in book values for the fourth quarter of 2024.

The analysis, which covers both Agency-focused and Hybrid/Credit Mortgage REITs, indicates an expected average book value decline of 5.6% and 3.3% respectively. This forecast is based on the companies’ performance as of September 30, 2024, where 17 companies in the sector had a combined market cap of approximately $36.0 billion and controlled mortgage-related assets totaling around $372 billion.

The fourth quarter of 2024 saw significant interest rate hikes and a steepening yield curve, which led to a shift in market expectations for Federal Reserve cuts. These changes are considered the primary drivers of the projected book value declines. As the earnings season approaches, these recent developments are being closely monitored for their potential impact on the residential mortgage REIT sector.

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