|
|
|
AG Mortgage Investment Trust Inc | 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (MITT.PRC)
Prospectus excerpt: We are offering 4,000,000 shares of our 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share, with a liquidation preference of $25.00 per share, or the Series C Preferred Stock. Holders of Series C Preferred Stock will be entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, September 17, 2024 at a fixed rate equal to 8.000% per annum of the $25.00 per share liquidation preference (equivalent to $2.00 per annum per share) and (ii) from and including September 17, 2024, at a floating rate equal to Three-Month LIBOR plus a spread of 6.476% per annum. Dividends will be payable quarterly in arrears on the 17th day of March, June, September and December of each year, when and as declared, beginning on December 17, 2019 (long first dividend period). Dividends will accumulate and be cumulative from, and including, the date of original issuance of the Series C Preferred Stock. The Series C Preferred Stock is not redeemable by us prior to September 17, 2024, except under circumstances where it is necessary to preserve our qualification as a real estate investment trust, or REIT, for U.S. federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On or after September 17, 2024, we may, at our option, redeem any or all of the shares of the Series C Preferred Stock at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but excluding, 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 C Preferred Stock within 120 days after the first date on which such Change of Control occurred at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon to, but excluding, the redemption date. The Series C 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 shares of our common stock, par value $0.01 per share, or our common stock, in connection with a Change of Control by the holders of Series C Preferred Stock. Full Prospectus PDF », Secondary Prospectus PDF », MITT Page »
Series: | C | Alternate symbology: | MITT-C, MITT-PC, MITTprC | Redeemable?: | Yes | Call Date: | 9/17/2024 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 4,000,000 | Overallotment: | 600,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $23.90 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-1.10 (-4.40%) | Annualized Dividend: | 2 | Recent Ex-Date: | 2/28/2024 | Current Yield: | 8.37% | Original Coupon: | 8.00% | Pay Period: | Quarterly | Pay Dates: | 17-Mar, 17-Jun, 17-Sep, 17-Dec | CDx3 Compliance Rating: |
Learn MITT.PRC's Rating
|
|
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 Open the MITT Information Page »
|
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: |
$6,990,857 |
Total Market Capitalization: |
$161,000,000 |
% of Market Cap. Held by ETFs: |
4.34% |
|
|
|
|
|