AG Mortgage Investment Trust (MITT) Tops Q4 EPS by $1.11

February 19, 2021 6:46 AM EST
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AG Mortgage Investment Trust (NYSE: MITT) reported Q4 EPS of $1.15, $1.11 better than the analyst estimate of $0.04.

MANAGEMENT REMARKS

"I am pleased with our performance during the fourth quarter of 2020 as we continued to execute on our goals of increasing book value while also maintaining strong liquidity," said David Roberts, Chief Executive Officer. "During the quarter, adjusted book value increased by 28% benefiting from continued asset value recovery in our residential and CMBS portfolios, as well as strong performance from our mortgage origination affiliate Arc Home. Additionally, we are pleased that we have reinstated both the common and preferred dividends for our stockholders."

"We are excited to report that Arc Home finished 2020 with 136% year over year growth in origination volume delivering another strong quarter of performance for the Company," said T.J. Durkin, Chief Investment Officer. Mr. Durkin also noted, "We are encouraged by the sale of two commercial real estate investments subsequent to year end providing additional liquidity enabling us to reinvest capital into the residential sector."

For earnings history and earnings-related data on AG Mortgage Investment Trust (MITT) click here.



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