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American Capital Mortgage Investment (MTGE) Tops Q1 EPS by 1c

April 29, 2015 4:25 PM EDT
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Price: $19.80 --0%

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American Capital Mortgage Investment (NASDAQ: MTGE) reported Q1 EPS of $0.59, $0.01 better than the analyst estimate of $0.58.

"We are pleased with MTGE's performance this quarter, as our portfolio generated an economic return of 11% against the backdrop of a very challenging interest rate environment," commented Gary Kain, President and Chief Investment Officer. "Our solid performance this quarter was enhanced by the actions we took late last year to reposition our portfolio toward a more defensive posture by reducing our leverage and interest rate risk."

"Both our agency and non-agency MBS performed well during the first quarter, as we continued our focus on sound asset selection, prudent risk management and an increased focus on prepayment risk," continued Mr. Kain. "We were especially pleased with the strong performance of the GSE credit risk sharing securities during the quarter (and into April), as we have increased our capital allocation to this sector."

"MTGE continues to deliver solid risk-adjusted returns over a wide range of market conditions, a testament to prudent capital allocation and disciplined risk management," commented Malon Wilkus, Chair and Chief Executive Officer. "MTGE's value proposition is even more compelling when viewed in the context of the historically low interest rate environment and the expected returns available in other fixed income asset classes both in the U.S. and around the world."

For earnings history and earnings-related data on American Capital Mortgage Investment (MTGE) click here.



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