NYSE$MITT

AG Mortgage Investment Trust Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported financial results for the quarter ended September 30, 2022.

AG Mortgage Investment Trust reported a decrease in adjusted book value by 4.2% for Q3 2022, driven by continued inflation, volatility, and credit spread widening, while strategically acquiring high-quality, newly-originated Non-Agency Loans and successfully terming out warehouse financing into securitizations, resulting in a strong liquidity position.

  • Book Value per share was $11.02 as of September 30, 2022, compared to $11.48 as of June 30, 2022.
  • Adjusted Book Value per share was $10.68 as of September 30, 2022, compared to $11.15 as of June 30, 2022, a decrease of (4.2)%.
  • Net Income and Core Earnings per diluted common share were $(0.33) and $(0.03), respectively.
  • A dividend of $0.21 per common share was declared.

Headline financials

Total Revenue

$15.5M

Previous: $12.4M+24.6%
EPS (adj)

-$0.03

Previous: $0.96-103.1%
Quarterly Economic ROE

-2.3%

No prior period
Investment Portfolio

$4.3B

No prior period
Economic Leverage Ratio

2

No prior period
Total Liquidity

$79.7M

No prior period
Dividend per Common Share

$0.21

No prior period
Net Income

-$2.87M

Previous: $34.6M-108.3%
Operating Income

$9.34M

Previous: $5.73M+63.1%
Gross Profit

$15.5M

Previous: $12.4M+24.6%
Cash & Equivalents

$77.6M

Previous: $102M-23.7%
Total Assets

$4.45B

Previous: $2.37B+87.6%
Stock-Based Comp

$80K

Previous: $80K+0.0%

Revenue & EPS history

MITT · Revenue · Quarterly

$15.5M

Q3 2022+24.6%vs Q3 2021
Beat estimate in 4 of 14 quarters(29%)
ActualEstimate

Forward guidance

This press release includes forward-looking statements regarding dividends, book value, adjusted book value, investments, business and investment strategy, investment returns, return on equity, liquidity, financing, taxes, assets, interest rate sensitivity, and views on certain macroeconomic trends and conditions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

+1.1%

Avg return

Earnings day

+1.9%

Avg return

5 days after

-0.1%

Avg return

30 days after

52%

30 / 58 earnings

Positive

+24.5%

Q4 2020

Best reaction

-14.3%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-6.1%-4.9%
Q4 2025-1.3%-4.6%-10.9%
Q3 2025+6.7%+9.2%+15.5%
Q2 2025-7.8%-4.1%+0.0%
Q1 2025-2.7%+3.0%+10.6%
Q4 2024+1.6%-1.1%-5.0%
Q3 2024-4.1%-0.3%-3.8%
Q2 2024-14.3%-12.4%-2.1%
Q1 2024+17.0%+17.2%+18.4%
Q4 2023+4.4%+2.5%+2.7%
Q3 2023+2.3%+2.5%+11.3%
Q2 2023+4.9%+0.8%+0.8%
Q1 2023+8.4%+4.6%+15.1%
Q4 2022+3.5%+5.7%-8.2%
Q3 2022+10.1%+8.0%+28.2%
Q2 2022-8.9%-8.3%-24.3%
Q1 2022-4.7%-2.4%+5.4%
Q4 2021-2.1%-4.1%+3.6%
Q3 2021+10.9%+12.8%-11.7%
Q2 2021-1.9%-6.7%-2.1%
Q1 2021+4.9%+0.8%+7.4%
Q4 2020+24.5%+40.2%+29.4%
Q3 2020-0.7%-1.8%+21.0%
Q2 2020+12.1%+12.1%-3.9%
Q1 2020+5.9%+1.5%-33.5%
Q4 2019-7.1%-2.7%-75.5%
Q3 2019-2.7%-1.3%-0.4%
Q2 2019-2.4%-1.8%-8.0%
Q1 2019-2.5%-2.3%-9.8%
Q4 2018+0.2%-0.3%-3.9%
Q3 2018+2.2%+3.6%+2.1%
Q2 2018-3.0%-1.3%-0.6%
Q1 2018+1.8%+4.1%+6.7%
Q4 2017-6.4%-4.2%-0.6%
Q3 2017+2.5%+0.5%+0.3%
Q2 2017+4.3%+4.3%+2.4%
Q1 2017-4.3%-1.7%+0.0%
Q4 2016+1.5%-0.4%+0.7%
Q3 2016+3.4%+6.9%+14.5%
Q2 2016+2.1%+3.7%+4.5%
Q1 2016+1.2%
Q4 2015+5.8%
Q3 2015-3.9%
Q2 2015-2.1%
Q1 2015-3.8%
Q4 2014+0.3%
Q3 2014+0.3%
Q2 2014-0.1%
Q1 2014+2.8%
Q4 2013+2.5%
Q3 2013-1.9%
Q2 2013-0.6%
Q1 2013+1.2%
Q4 2012-3.2%
Q3 2012-0.8%
Q2 2012+0.0%
Q1 2012-0.3%
Q3 2011+11.5%

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