Mission Statement, Vision, & Core Values (2024) of AG Mortgage Investment Trust, Inc. (MITT)

An Overview of AG Mortgage Investment Trust, Inc. (MITT)

General Summary of AG Mortgage Investment Trust, Inc. (MITT)

AG Mortgage Investment Trust, Inc. (MITT) is a residential mortgage real estate investment trust (REIT) that focuses on investing in a diversified portfolio of residential mortgage-related assets in the U.S. mortgage market. The company primarily invests in newly originated residential mortgage loans, including Non-Agency and Agency-Eligible Loans, and securitizes these loans to obtain long-term financing. As of September 30, 2024, the total unpaid principal balance of securitized residential mortgage loans was approximately $6.7 billion.

MITT's investment strategy includes acquiring residential mortgage loans through various financing lines and securitizing them to achieve attractive risk-adjusted returns for its shareholders. The company has also expanded its portfolio through acquisitions, including the Legacy WMC mortgage platform, which has enhanced its operational capabilities and market presence.

As of 2024, AG Mortgage Investment Trust has reported a book value per common share of $10.58. The company is known for its commitment to providing dividends and capital appreciation to its investors, striving to maintain a balanced and diversified investment portfolio.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, AG Mortgage Investment Trust reported a net income of $16.64 million, or $0.40 per diluted common share, compared to a net loss of $2.17 million for the same period in 2023. The company's total interest income for this period was $107.46 million, up from $64.21 million in the prior year, reflecting a significant increase in revenue attributed to its investment activities.

The company declared common dividends totaling $0.56 per share for the nine months ended September 30, 2024, compared to $0.54 per share for the same period in 2023. The total assets as of September 30, 2024, were approximately $6.70 billion, with a leverage ratio of 11.8x.

The following table summarizes key financial metrics for AG Mortgage Investment Trust as of September 30, 2024:

Introduction to AG Mortgage Investment Trust as a Leader in the Industry

AG Mortgage Investment Trust, Inc. is recognized as a leader in the residential mortgage REIT sector, leveraging its expertise in mortgage investment and securitization to deliver robust returns to its shareholders. The company has strategically positioned itself within the industry by focusing on a diversified portfolio that includes both Agency and Non-Agency mortgage assets.

With a strong emphasis on risk management and strategic acquisitions, MITT continues to adapt to changing market conditions, enhancing its competitive edge in the mortgage investment landscape. This adaptability, combined with a commitment to shareholder value through dividends and capital growth, underscores AG Mortgage Investment Trust's status as a key player in the industry. For further insights into AG Mortgage Investment Trust's operational strategies and market position, additional exploration is recommended.

Mission Statement of AG Mortgage Investment Trust, Inc. (MITT)

Mission Statement of AG Mortgage Investment Trust, Inc. (MITT)

The mission statement of AG Mortgage Investment Trust, Inc. (MITT) emphasizes the company's commitment to being a leading residential mortgage real estate investment trust (REIT) focused on investing in a diversified portfolio of residential mortgage-related assets. This mission is significant as it guides the company's long-term goals, operational strategies, and investment decisions.

Core Component 1: Investment in Residential Mortgage-Related Assets

AG Mortgage Investment Trust aims to allocate capital to investment opportunities that present attractive risk/return profiles within the U.S. mortgage market. As of September 30, 2024, the company’s investment portfolio included:

This diversified approach helps mitigate risks associated with market fluctuations while pursuing stable returns for shareholders.

Core Component 2: Commitment to Risk Management

The company employs a robust risk management framework to navigate the complexities of the mortgage market. As of September 30, 2024, AG Mortgage Investment Trust reported:

• 11.8x GAAP Leverage Ratio
• 1.5x Economic Leverage Ratio
• Weighted Average Yield on Securitized Residential Mortgage Loans: 6.15%
• Weighted Average Yield on Securitized Debt: 3.34%

This framework includes continuous evaluation of the underlying collateral characteristics, geography, expected return, and other factors that influence investment performance.

Core Component 3: Focus on Shareholder Returns

AG Mortgage Investment Trust prioritizes delivering attractive risk-adjusted returns to its shareholders. The financial performance metrics for the third quarter of 2024 include:

• Net Income Available to Common Stockholders: $0.40 per diluted share
• Earnings Available for Distribution (EAD): $0.17 per diluted share
• Dividend Declared per Common Share: $0.19

These metrics illustrate the company’s focus on maintaining a sustainable dividend policy while ensuring capital appreciation through strategic investments.

Vision Statement of AG Mortgage Investment Trust, Inc. (MITT)

Vision Statement of AG Mortgage Investment Trust, Inc. (MITT)

The vision statement of AG Mortgage Investment Trust, Inc. (MITT) focuses on the company's commitment to becoming a leader in the residential mortgage investment sector, emphasizing its aim to deliver strong returns to shareholders through strategic investments and capital management.

MITT's vision emphasizes its dedication to investing in a diversified portfolio of residential mortgage-related assets. This includes a focus on acquiring newly originated residential mortgage loans, particularly within the non-agency segment. As of September 30, 2024, the total unpaid principal balance of the securitized residential mortgage loans was $6,226,698, representing a significant portion of the company's investment portfolio.

The company aims to provide attractive risk-adjusted returns to its stockholders over the long term. The weighted average yield of the Company's securitized residential mortgage loans was reported at 6.15% as of September 30, 2024. Furthermore, the book value per common share increased to $10.58 from $10.20, reflecting the company's effective management of its investment portfolio.

As part of its vision, MITT actively seeks growth opportunities through strategic acquisitions. The acquisition of Western Asset Mortgage Capital Corporation in December 2023 added approximately $1.2 billion to its investment portfolio, primarily consisting of securitized non-agency loans. This strategic move enhances the company's asset base and positions it for future growth in the mortgage investment market.

MITT utilizes innovative financing solutions to support its investment activities. The company engages in securitization of its loans to obtain long-term, non-recourse financing. As of September 30, 2024, the total fair value of investments in debt and equity of affiliates was reported at $48,596. This approach allows MITT to manage its capital structure effectively while pursuing its investment strategy.

The company's vision includes a robust framework for responding to market conditions. As of September 30, 2024, MITT's net interest income was $14,950, reflecting a year-over-year increase. This adaptability enables MITT to optimize its portfolio in response to changing economic environments and interest rate fluctuations.

Core Values of AG Mortgage Investment Trust, Inc. (MITT)

Integrity

The core value of integrity at AG Mortgage Investment Trust, Inc. (MITT) emphasizes transparency and ethical conduct in all business dealings. This commitment ensures that the company maintains trust with its stakeholders, including investors, employees, and partners.

In 2024, MITT demonstrated its integrity through rigorous compliance with financial regulations and transparent reporting practices. The company reported a net income available to common stockholders of $11.9 million for the three months ended September 30, 2024, reflecting a earnings per share of $0.40.

Excellence

MITT's core value of excellence drives the company to achieve high performance in its investment strategies and operational efficiency. The company actively seeks to optimize its portfolio of residential mortgage-related assets.

As of September 30, 2024, MITT's total assets were valued at approximately $6.96 billion, with a significant focus on securitized residential mortgage loans amounting to $6.23 billion. This performance underscores the company's commitment to excellence in managing its diversified portfolio.

Innovation

Innovation is a cornerstone of MITT's strategy, enabling the company to adapt and thrive in a competitive market. The company invests in cutting-edge technologies and advanced analytics to enhance its investment processes.

In 2024, MITT co-sponsored a rated securitization collateralized by $360.7 million of agency-eligible loans, showcasing its innovative approach to capitalizing on market opportunities. This initiative reflects MITT's ability to leverage innovative financial solutions to optimize returns for its shareholders.

Teamwork

Teamwork at MITT fosters collaboration among employees and stakeholders, promoting a culture of shared success. This core value is essential for driving the company’s strategic initiatives and enhancing operational effectiveness.

In the third quarter of 2024, MITT reported total investment-related expenses of $3.41 million, which included various team efforts in managing residential mortgage loan assets. This collaborative approach is vital for achieving the company's financial objectives and maintaining a cohesive work environment.

Accountability

Accountability is a fundamental value that ensures MITT remains responsible for its actions and outcomes. The company holds itself accountable to its shareholders, ensuring that decisions are made in their best interests.

As of September 30, 2024, MITT declared a dividend of $0.19 per common share, reflecting its commitment to returning value to shareholders. This action reinforces the company’s accountability in managing shareholder expectations and financial performance.

Updated on 16 Nov 2024

Resources:

1. AG Mortgage Investment Trust, Inc. (MITT) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of AG Mortgage Investment Trust, Inc. (MITT)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View AG Mortgage Investment Trust, Inc. (MITT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.