AG Mortgage reports Q1 EPS 55c, consensus 15c

Reports adjusted book value per share of $10.58 as of March 31 vs. $10.20 as of December 31, 2023. “Q1 marks the first full quarter of earnings results following our acquisition of WMC and paints a clear picture of the compelling benefits. We grew our book value approximately 3.7% quarter over quarter while paying our 18 cent dividend and producing a 5.5% Economic Return on Equity for the quarter,” said CEO TJ Durkin. “Completing the WMC acquisition was another substantial step in further positioning MITT as a premier pure play residential mortgage REIT, and we have confidence in our ability to continue to deliver on strong earnings off the investment portfolio while seeking ways to continue enhancing scale and G&A efficiencies.”