Seeking Alpha

AG Mortgage book value gain leaves shares at 8.2% discount

  • Q2 core earnings of $17M or $0.60 per share vs. $17.7M and $0.62 in Q1. Dividend is $0.60.
  • Book value per share of $20.26 vs. $19.53 at end of Q1. Last night's close of $18.59 is a 8.2% discount to book.
  • Investment portfolio is flat at $3.8B, but the mix continues to shift from agency MBS, which represents 57.4% of portfolio, down from 61.7% in Q1 and 65.1% in Q4. CPR on agency MBS is 7.6%, up from 6% in Q1.
  • Conference call at 9 ET
  • MITT flat premarket
  • Previously: AG Mortgage Investment Trust EPS in-line
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