Value Forum
Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door ValueForum.com
AG Mortgage Investment Trust Inc | 8.00% Series B Cumulative Redeemable Preferred Stock (MITT.PRB)

Prospectus exerpt:  We are offering to the public 4,000,000 shares of our 8.00% Series B Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the Series B Preferred Stock. This is an initial issuance of the Series B Preferred Stock. We will pay quarterly cumulative dividends on the Series B Preferred Stock, in arrears, on the 17th day of each March, June, September and December (provided that if any dividend payment date is not a business day, then the dividend that would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day) from, and including, the date of original issuance at 8.00% of the $25.00 per share liquidation preference per annum (equivalent to $2.00 per annum per share). The first dividend on the Series B Preferred Stock sold in this offering will be payable on December 17, 2012 and will be in the amount of $0.44 per share.

The Series B Preferred Stock may not be redeemed before September 27, 2017, except under circumstances intended to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On or after September 27, 2017, we may, at our option, redeem any or all of the shares of the Series B Preferred Stock at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. In addition, upon the occurrence of a Change of Control, we may, at our option, redeem any or all of the shares of Series B Preferred Stock within 120 days after the first date on which such Change of Control occurred at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. The Series B Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by us or converted into our common stock in connection with a Change of Control by the holders of Series B Preferred Stock.

Full Prospectus PDF », MITT Page »

Series:B
Redeemable?:Yes
Call Date:9/27/2017
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:4,000,000
Overallotment:600,000
Liquidation Preference:$25
Recent Market Price:$25.52
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.52 (2.08%)
Annualized Dividend:2.00
Recent Ex-Date:5/29/2013
Current Yield:7.84%
Original Coupon:8.000%
Pay Period:Quarterly
Pay Dates:17-Mar, 17-Jun, 17-Sep, 17-Dec
AG Mortgage Investment Trust is a real estate investment trust focused on investing in, acquiring and managing a portfolio of residential mortgage assets, other real estate-related securities and financial assets. Co. invests in residential mortgage-backed securities (RMBS), for which the Government National Mortgage Association, or the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation, guarantees payments of principal and interest on the securities (Agency RMBS). Co.'s Agency RMBS investments include mortgage pass-through securities and may include collateralized mortgage obligations. Co. is externally managed and advised by AG REIT Management, LLC.

Preferreds: MITT.PRA, MITT.PRB


Open the MITT Information Page »
Name:  AG Mortgage Investment Trust Inc
Website:  www.agmit.com
Sector:  REITs
Number of ETFs Holding MITT:  16 (see which ones)
Total Market Value Held by ETFs:  $31,397,003
Total Market Capitalization:  $712,000,000
% of Market Cap. Held by ETFs:  4.41%

Quotes delayed 20 minutes

AG Mortgage Investment Trust Inc | 8.00% Series B Cumulative Redeemable Preferred Stock (MITT.PRB) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com | Copyright © 2011 - 2013, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Service. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.