MITT dividend yield – AG Mortgage Investment Trust Cuts Interim Dividend by 37.5%, Now Paying $0.05/Share
November 21, 2023
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AG ($NYSE:MITT) MIT is a real estate investment trust which invests in residential and commercial mortgage-backed securities, as well as other mortgage-related investments. The company’s portfolio is managed by two asset management companies, Angelo, Gordon & Co. and M&T Realty Capital Corporation. The dividend cut comes as part of the company’s efforts to preserve capital in light of the current economic environment.
However, AG MIT still maintains its quarterly dividend policy with the intention of returning more of its dividend to shareholders over time. The reduction in the dividend is not expected to have an immediate impact on AG MIT’s financial performance as the company continues to make adjustments to its portfolio in order to mitigate losses. Nevertheless, the dividend cut should be seen as an indication of the company’s commitment to conservative investments during this period of economic uncertainty.
Dividends – MITT dividend yield
AG Mortgage Investment Trust has recently announced a 37.5% cut in their interim dividend, reducing the payment to $0.05/share. This marks a significant decrease from the dividend payments seen in the last three years; the company issued annual dividends per share of $0.72, $0.81, and $0.81 USD respectively. Despite the reduction, this still presents an attractive dividend yield option for investors.
The current range of dividend yields for 2021 to 2023 are 12.22%, 11.96%, and 6.9%, with an average dividend yield of 10.36%. If you are looking for dividend stocks, AG Mortgage Investment Trust is certainly worth considering.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MITT. More…
| Total Revenues | Net Income | Net Margin |
| 58.71 | 11.78 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MITT. More…
| Operations | Investing | Financing |
| 23.83 | -470.3 | 486.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MITT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.88k | 4.43k | 11.37 |
Key Ratios Snapshot
Some of the financial key ratios for MITT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
According to our proprietary Star Chart, AG MORTGAGE INVESTMENT TRUST is classified as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. These types of companies may be of interest to investors looking for regular income without too much risk. However, AG MORTGAGE INVESTMENT TRUST’s overall health score came in at 3 out of 10. This indicates that it is strong in asset, medium in dividend, profitability and weak in growth. Furthermore, its cashflows and debt levels suggest that it is less likely to safely ride out any crisis without the risk of bankruptcy. More…
Peers
The company’s competitors include Annaly Capital Management Inc, Ellington Residential Mortgage REIT, AGNC Investment Corp.
– Annaly Capital Management Inc ($NYSE:NLY)
Annaly Capital Management Inc is a real estate investment trust. The Company owns, finances and manages a portfolio of real estate-related investments, which includes mortgage pass-through certificates, collateralized mortgage obligations, agency callable debentures, other securities and investments, commercial real estate loans and other real estate-related assets.
– Ellington Residential Mortgage REIT ($NYSE:EARN)
Ellington Residential Mortgage REIT is a mortgage real estate investment trust that acquires, invests in, and manages residential mortgage- and real estate-related assets in the United States. The company has a market cap of 91.82M as of 2022. It operates through three segments: Mortgage Origination, Mortgage Servicing, and Mortgage Investments. The Mortgage Origination segment originates and acquires residential mortgage loans. The Mortgage Servicing segment services mortgage loans. The Mortgage Investments segment invests in mortgage-related assets, including residential mortgage loans, real estate securities, and other real estate-related investments.
– AGNC Investment Corp ($NASDAQ:AGNC)
AGNC Investment Corp is a real estate investment trust that invests in residential mortgage-backed securities. The company has a market cap of $5.4 billion as of 2022. It is headquartered in Bethesda, Maryland, and has over $100 billion in assets under management. AGNC is one of the largest REITs in the United States and is publicly traded on the New York Stock Exchange.
Summary
AG Mortgage Investment Trust (MITT) recently announced a 37.5% reduction in its interim dividend to $0.05/share. This move could be seen as a sign that the company is preparing for more challenging conditions, as most of its income is generated from investments in residential and commercial mortgage-backed securities. Although the company is well-capitalized and has strong liquidity, there are still risks associated with this type of security. It is important for investors to consider the potential for rising interest rates, along with the potential for default or prepayment of mortgages, when investing in this type of security.
Investors should also be aware of any changes in the regulatory and economic environment that could have a direct effect on the company’s performance. Despite these risks, MITT has been a reliable source of income for many investors and continues to offer a profitable investment opportunity.
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