NYSE:MITT

Stock Analysis Report

Executive Summary

AG Mortgage Investment Trust, Inc., a real estate investment trust, focuses on investing in, acquiring, and managing a portfolio of residential mortgage-backed securities, other real estate-related securities, and financial assets in the United States.


Snowflake Analysis

Undervalued with questionable track record.


Similar Companies

Share Price & News

How has AG Mortgage Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MITT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-29.9%

MITT

-27.6%

US Mortgage REITs

-2.6%

US Market


1 Year Return

-88.7%

MITT

-67.4%

US Mortgage REITs

-13.3%

US Market

Return vs Industry: MITT underperformed the US Mortgage REITs industry which returned -67.4% over the past year.

Return vs Market: MITT underperformed the US Market which returned -13.3% over the past year.


Shareholder returns

MITTIndustryMarket
7 Day-29.9%-27.6%-2.6%
30 Day-87.6%-65.3%-15.2%
90 Day-87.6%-67.2%-22.2%
1 Year-87.6%-88.7%-63.5%-67.4%-11.5%-13.3%
3 Year-85.9%-89.6%-56.2%-68.6%13.2%5.7%
5 Year-82.3%-90.0%-46.4%-69.4%31.8%17.2%

Price Volatility Vs. Market

How volatile is AG Mortgage Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is AG Mortgage Investment Trust undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MITT ($1.92) is trading below our estimate of fair value ($37.04)

Significantly Below Fair Value: MITT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MITT is good value based on its PE Ratio (0.8x) compared to the Mortgage REITs industry average (2.7x).

PE vs Market: MITT is good value based on its PE Ratio (0.8x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MITT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MITT is good value based on its PB Ratio (0.1x) compared to the US Mortgage REITs industry average (0.3x).


Next Steps

Future Growth

How is AG Mortgage Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-1.0%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MITT's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if MITT's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MITT's revenue is expected to decline over the next 3 years (-1% per year).

High Growth Revenue: MITT's revenue is forecast to decline over the next 3 years (-1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MITT's Return on Equity is forecast to be low in 3 years time (10.2%).


Next Steps

Past Performance

How has AG Mortgage Investment Trust performed over the past 5 years?

-2.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MITT has high quality earnings.

Growing Profit Margin: MITT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MITT's earnings have declined by -2.8% per year over the past 5 years.

Accelerating Growth: MITT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MITT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Mortgage REITs industry (18.1%).


Return on Equity

High ROE: MITT's Return on Equity (11.5%) is considered low.


Next Steps

Financial Health

How is AG Mortgage Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: MITT's short term assets ($719.5M) exceed its short term liabilities ($66.4M).

Long Term Liabilities: MITT's short term assets ($719.5M) do not cover its long term liabilities ($3.4B).


Debt to Equity History and Analysis

Debt Level: MITT's debt to equity ratio (407.3%) is considered high.

Reducing Debt: MITT's debt to equity ratio has increased from 367.7% to 407.3% over the past 5 years.

Debt Coverage: MITT's debt is not well covered by operating cash flow (1.9%).

Interest Coverage: Insufficient data to determine if MITT's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is AG Mortgage Investment Trust's current dividend yield, its reliability and sustainability?

93.75%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MITT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MITT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MITT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MITT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MITT is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MITT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.5yrs

Average management tenure


CEO

David Roberts (57yo)

9.25s

Tenure

Mr. David Nathan Roberts serves as the Head of Strategy and Senior Managing Director at Angelo, Gordon & Co. He joined Angelo Gordon in 1993 and is Head of Strategy and is a Managing Director. Mr. Roberts  ...


Leadership Team

NamePositionTenureCompensationOwnership
David Roberts
Chairman of the Board9.25yrsno data1.07% $673.1k
Brian Sigman
CFO, Treasurer & Director1.92yrsUS$1.26m0.14% $86.1k
Thomas Durkin
Chief Investment Officer & Director1.92yrsno data0.20% $125.1k
Raul Moreno
General Counsel & Secretary4.42yrsUS$415.98k0.012% $7.8k
Andrew Parks
Chief Risk Officer10.67yrsUS$157.32kno data
Alison Halpern
Chief Accounting Officer & Controller0.33yrno datano data
Karen Werbel
Investor Relationsno datano datano data

5.5yrs

Average Tenure

39.5yo

Average Age

Experienced Management: MITT's management team is seasoned and experienced (5.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Roberts
Chairman of the Board9.25yrsno data1.07% $673.1k
Brian Sigman
CFO, Treasurer & Director1.92yrsUS$1.26m0.14% $86.1k
Thomas Durkin
Chief Investment Officer & Director1.92yrsno data0.20% $125.1k
Peter Linneman
Independent Director8.75yrsUS$160.00k0.079% $49.6k
Debra Hess
Independent Director2.17yrsUS$143.11k0.028% $17.5k
Arthur Ainsberg
Independent Director6.92yrsUS$185.00k0.061% $38.6k
Joseph LaManna
Lead Independent Directorno dataUS$185.00k0.10% $64.6k

4.5yrs

Average Tenure

57yo

Average Age

Experienced Board: MITT's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MITT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.4%.


Top Shareholders

Company Information

AG Mortgage Investment Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AG Mortgage Investment Trust, Inc.
  • Ticker: MITT
  • Exchange: NYSE
  • Founded: 2011
  • Industry: Mortgage REITs
  • Sector: Diversified Financials
  • Market Cap: US$62.878m
  • Shares outstanding: 32.75m
  • Website: https://www.agmit.com

Location

  • AG Mortgage Investment Trust, Inc.
  • 245 Park Avenue
  • 26th Floor
  • New York
  • New York
  • 10167
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MITTNYSE (New York Stock Exchange)YesCommon StockUSUSDJun 2011
8AGDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2011
8AGBRSE (Berne Stock Exchange)YesCommon StockCHCHFJun 2011
MITT.PRANYSE (New York Stock Exchange)8.25% PFD SER AUSUSDJul 2012
MITT.PRBNYSE (New York Stock Exchange)PFD SER B 8.00%USUSDSep 2012
MITT.PRCNYSE (New York Stock Exchange)8% CUM PFD CUSUSDSep 2019

Biography

AG Mortgage Investment Trust, Inc., a real estate investment trust, focuses on investing in, acquiring, and managing a portfolio of residential mortgage-backed securities, other real estate-related securities, and financial assets in the United States. It operates through two segments, Securities and Loans, and Single-Family Rental Properties. The Securities and Loans segment invests in residential mortgage-backed securities; residential investments, including credit risk transfer securities, mortgage-backed securities collateralized by re-performing mortgage loans and/or non-performing mortgage loans, and new origination loans, as well as re-performing mortgage loans and/or non-performing mortgage loans; commercial investments, such as commercial mortgage-backed securities (CMBS), interest-only securities, and CMBS principal-only securities; and asset backed securities comprising investment grade and non-investment grade debt and equity tranches of securitizations collateralized by various asset classes. The Single-Family Rental Properties segment operates single-family rental properties, as well as provides property management services. Its portfolio includes 1,225 properties located in the Southeast United States. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 2011 and is based in New York, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 02:59
End of Day Share Price2020/04/06 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.