AG Mortgage Investment Trust Q4 Earnings Decline, Despite Higher Interest Income

(RTTNews) - AG Mortgage Investment Trust, Inc. (MITT), a residential mortgage REIT, On Monday announced that net income declined in the fourth quarter, compared with last year.

In the fourth quarter, profit came in at $8.82 million down from $30.77 million last year.

Earnings per share were $0.30 versus $1.35 the prior year.

Analysts, on average, had expected the company to earn $0.20 per share. Analysts' estimates typically exclude special items.

Interest income increased to $17.38 million from $13.34 million last year. Book Value per share came in at $10.64.

On February 14, the company had announced a quarterly cash dividends of $0.51563 per share for Series A, $0.50 for Series B, and $0.693062 for Series C Preferred Stock. The dividends will be paid on March 17 to shareholders on record, February 28.

In the pre-market trading, AG Mortgage is 0.26% lesser at $7.55 on the New York Stock Exchange.