The following is a summary of the AG Mortgage Investment Trust, Inc. (MITT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• AG Mortgage Investment Trust reported a net interest income of $15.8 million, earnings per share of $0.40, and EAD per share of $0.17.

• The company saw its book value increase from $10.37 to $10.58, while paying a $0.19 dividend, equating to an economic return on equity of 3.9% for the quarter.

• GAAP net income available to common shareholders amounted to approximately $11.9 million.

Business Progress:

• AG Mortgage Investment Trust issued two agency eligible nonowner-occupied securitizations totaling approximately $750 million.

• They have expanded their product set into home equity loans, acquiring approximately $150 million and committed to purchase another $200 million of home equity loans.

Opportunities:

• The company sees home equity loans as an emerging and potentially significant sector due to the increasing demand for such products from well-qualified homeowners.

• AG Mortgage Investment Trust anticipates further securitizations, expecting to issue one or two more transactions before the end of the year.

Risks:

• No explicit risks/opportunities detected.

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