AG Mortgage Investment Trust Inc | 8.00% Series B Cumulative Redeemable Preferred Stock (MITT.PRB)

Prospectus excerpt:  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 »

Alternate symbology:MITT-B, MITT-PB, MITTprB
Call Date:9/27/2017 (Now Trading Post Call Date)
Shares Offered:4,000,000
Liquidation Preference:$25
Recent Market Price:$20.20
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-4.80 (-19.20%)
Annualized Dividend:2
Recent Ex-Date:5/27/2022
Current Yield:9.90%
Original Coupon:8.00%
Pay Period:Quarterly
Pay Dates:17-Mar, 17-Jun, 17-Sep, 17-Dec
CDx3 Compliance Rating: Learn MITT.PRB's Rating
AG Mortgage Investment Trust is a hybrid mortgage real estate investment trust that invests in a risk adjusted portfolio of agency investments and credit investments. Co.'s investment portfolio is comprised of its Credit Investments and Agency residential mortgage-backed securities (RMBS). Co.'s Credit Investments include: Residential Investments, which include investment grade and non-investment grade fixed and floating-rate securities; and Commercial Investments, which include commercial real estate loans, including first mortgages and mezzanine loans. Co.'s Agency RMBS include: fixed rate securities held as mortgage pass-through securities, as well as excess mortgage servicing rights.


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AG Mortgage Investment Trust Inc
Number of ETFs Holding MITT: 
8 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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