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

Fundamentals

Slightly overvalued unattractive dividend payer.


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


Market Performance


7 Day Return

1.2%

MITT

1.3%

US Mortgage REITs

3.4%

US Market


1 Year Return

-14.8%

MITT

-4.6%

US Mortgage REITs

5.4%

US Market

Return vs Industry: MITT underperformed the US Mortgage REITs industry which returned -4.6% over the past year.

Return vs Market: MITT underperformed the US Market which returned 5.4% over the past year.


Shareholder returns

MITTIndustryMarket
7 Day1.2%1.3%3.4%
30 Day-5.3%0.3%-1.0%
90 Day-7.1%-1.7%-0.4%
1 Year-3.8%-14.8%6.2%-4.6%7.7%5.4%
3 Year37.3%-1.9%39.4%0.6%46.2%36.8%
5 Year44.7%-21.0%54.6%-11.2%65.6%47.5%

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?

37.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: MITT ($14.9) is trading below our estimate of fair value ($23.7)

Significantly Undervalued: MITT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MITT is poor value based on its PE Ratio (23x) compared to the Mortgage REITs industry average (12.7x).

PE vs Market: MITT is poor value based on its PE Ratio (23x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low 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 (0.9x) compared to the US Mortgage REITs industry average (0.9x).


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?

12.0%

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 (2.7%).

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 (12% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: MITT's revenue (12% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: MITT's Return on Equity is forecast to be low in 3 years time (9.9%).


Next Steps

Past Performance

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

-10.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MITT's earnings have declined by -10.3% per year over the past 5 years.

Accelerating Growth: MITT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MITT had negative earnings growth (-69.1%) over the past year, making it difficult to compare to the Mortgage REITs industry average (3.7%).


Return on Equity

High ROE: MITT's Return on Equity (4.5%) is considered low.


Return on Assets

ROA vs Industry: MITT's Return on Assets is below or equal to the Mortgage REITs industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate MITT's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is AG Mortgage Investment Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MITT has a low level of unsold assets or inventory.

Debt Coverage by Assets: MITT's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: MITT's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MITT has a sufficient allowance for bad loans.

Low Risk Liabilities: MITT reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if MITT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MITT has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if MITT has an appropriate level of bad loans.


Next Steps

Dividend

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

13.42%

Current Dividend Yield


Dividend Yield vs Market

company13.4%marketbottom25%1.5%markettop25%3.8%industryaverage10.4%forecastin3Years12.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MITT's dividend (13.42%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: MITT's dividend (13.42%) is in the top 25% of dividend payers in the US market (3.77%)

Stable Dividend: MITT has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: MITT's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (308.6%), MITT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MITT's dividends in 3 years are not forecast to be well covered by earnings (104.8% payout ratio).


Next Steps

Management

What is the CEO of AG Mortgage Investment Trust's salary, the management and board of directors tenure and is there insider trading?

6.1yrs

Average management tenure


CEO

David Roberts (57yo)

8.8yrs

Tenure

0

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  ...


Management Age and Tenure

6.1yrs

Average Tenure

41yo

Average Age

Experienced Management: MITT's management team is seasoned and experienced (6.1 years average tenure).


Board Age and Tenure

6.4yrs

Average Tenure

58.5yo

Average Age

Experienced Board: MITT's board of directors are considered experienced (6.4 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$826,50010 May 19
David Roberts
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares50,000
Max PriceUS$16.53
BuyUS$85,25014 Feb 19
Brian Sigman
EntityIndividual
Role
Member of the Board of Directors
CFO, Treasurer & Director
Shares5,000
Max PriceUS$17.05
BuyUS$852,50014 Feb 19
David Roberts
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares50,000
Max PriceUS$17.05
BuyUS$170,50014 Feb 19
Thomas Durkin
EntityIndividual
Role
Member of the Board of Directors
Chief Investment Officer & Director
Shares10,000
Max PriceUS$17.05

Ownership Breakdown


Management Team

  • David Roberts (57yo)

    Chairman of the Board

    • Tenure: 8.8yrs
  • Brian Sigman (41yo)

    CFO, Treasurer & Director

    • Tenure: 1.4yrs
    • Compensation: US$1.26m
  • Andrew Parks (47yo)

    Chief Risk Officer

    • Tenure: 10.2yrs
    • Compensation: US$157.32k
  • Raul Moreno (38yo)

    General Counsel & Secretary

    • Tenure: 3.9yrs
    • Compensation: US$415.98k
  • Karen Werbel

    Investor Relations

    • Tenure: 0yrs
  • TJ Durkin (36yo)

    Chief Investment Officer & Director

    • Tenure: 1.4yrs

Board Members

  • David Roberts (57yo)

    Chairman of the Board

    • Tenure: 8.8yrs
  • Peter Linneman (68yo)

    Independent Director

    • Tenure: 8.3yrs
    • Compensation: US$160.00k
  • Debra Hess (55yo)

    Independent Director

    • Tenure: 1.7yrs
    • Compensation: US$143.11k
  • Arthur Ainsberg (72yo)

    Independent Director

    • Tenure: 6.4yrs
    • Compensation: US$185.00k
  • Andrew Berger (73yo)

    Independent Director

    • Tenure: 8.3yrs
    • Compensation: US$170.00k
  • Joe LaManna (60yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: US$185.00k
  • Brian Sigman (41yo)

    CFO, Treasurer & Director

    • Tenure: 1.4yrs
    • Compensation: US$1.26m
  • TJ Durkin (36yo)

    Chief Investment Officer & Director

    • Tenure: 1.4yrs

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$487.761m
  • Shares outstanding: 32.74m
  • 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
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 securit ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 00:20
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.