AG Mortgage Investment Trust (MITT) stock prices per share

AG Mortgage Investment Trust (MITT) stock prices per share : AG Mortgage Investment Trust, Inc. (MITT) recently announced the pricing of a public offering of 5 million shares at an average price of $19.00 per share. In a bid to cover over allotments, the company will also provide a 30-day option to the underwriters for purchasing an additional 750,000 shares.

The financial proceeds generated from the transaction will be utilized by the company to purchase financial assets and residential mortgage-backed securities (RMBS) and for other general corporate purposes.

This public offering will help the company to attain financial flexibility and seize investment opportunities and pursue accretive acquisitions, which go a long way in enhancing top-line growth. As of September 30, 2011, the company’s cash position stood at $61.5 million. AG Mortgage reported net income of $13.2 million or $1.41 per share in the third quarter of 2011.

AG Mortgage is a real estate investment trust that invests in, acquires and manages a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. The company’s portfolio includes Agency RMBS and non-Agency RMBS. Agency RMBS are those whose interest and principal payments carry guarantees from federally chartered entities or government agencies while non-Agency RMBS are those that are not issued or guaranteed by such government entities. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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