American Capital Mortgage Investment (MTGE) Tops Q2 Views

American Capital Mortgage Investment (NASDAQ: MTGE) reported Q2 net income of $1.64/share and $0.72/share of dollar roll income, $0.10 better than the analyst estimate of $0.62.

"We are very pleased with MTGE's performance during the second quarter," commented Gary Kain, President and Chief Investment Officer. "Our economic return for the second quarter was over 7%, or almost 30% on an annualized basis. Moreover, our total economic return since our inception less than 3 years ago has now exceeded 58%. Our balanced portfolio composition, which now includes MSR in addition to agency and non-agency MBS, positions us well in line with our objective of generating attractive risk adjusted returns for our shareholders over a wide range of economic environments."

"MTGE posted another very strong quarter for our shareholders," commented Malon Wilkus, MTGE Chair and Chief Executive Officer. "Through the first two quarters of 2014, MTGE has generated a positive economic return of 12%. More importantly, despite the challenges presented by the Fed's asset purchase program, our total economic return over the entire QE3 period is now close to 24%. This strong performance clearly demonstrates the importance of sound portfolio diversification, strong asset selection and active management in generating superior returns for our shareholders over the longer term."

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

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