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Buy (3.00 out of 4)
33rd percentile
(ranked lower than approx. 67% of all stocks covered)
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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thursday, March 28, 1:21 PM

Slide #599. AG Mortgage Investment Trust, Inc. Preferred Stock Offering

Company: AG Mortgage Investment Trust, Inc. (NYSE:MITT)
Date announced: 9/19/2012
$Amount Offered: $100,000,000
Date of Pricing: 9/20/2012
Price Per Share: $25
Preferred Stock Offering Details: AG Mortgage Investment Trust, Inc. announced that it intends to make a public offering of shares of an original issuance of Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the "Series B Preferred Stock"). The Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Stock to cover any overallotments. The Company also intends to apply to list the Series B Preferred Stock on the New York Stock Exchange. --updated 9/20/12 -- AG Mortgage Investment Trust, Inc. announced that it has priced the public offering of 4,000,000 shares of its 8.00% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the "Series B Preferred Stock"), for gross proceeds of $100 million before deducting the underwriting discount and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of the Series B Preferred Stock to cover over-allotments, if any.

AG Mortgage Investment Trust is a residential mortgage real estate investment trust with a focus on investing in a portfolio of residential mortgage-related assets in the U.S. mortgage market. Co.'s investment portfolio (which excludes its ownership in Arc Home, LLC) includes Residential Investments and Agency Residential Mortgage-Backed Securities. Co.'s Residential Investments primarily consist of Non-Qualified Mortgage Loans and U.S. Government-Sponsored Entity Non-Owner Occupied Loans. In addition to its Residential Investments, Co. may also invest in other types of residential mortgage loans and other mortgage related assets.

Preferreds: MITT.PRA, MITT.PRB, MITT.PRC


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Name:  AG Mortgage Investment Trust Inc
Website:  www.agmit.com
Sector:  REITs
Number of ETFs Holding MITT:  4 (see which ones)
Total Market Value Held by ETFs:  $9,162,362
Total Market Capitalization:  $179,000,000
% of Market Cap. Held by ETFs:  5.12%
 

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