CEO, David Roberts said, "The underperformance in broad risk assets and increased interest rate volatility during the fourth quarter caught most market participants off-guard. During the fourth quarter of 2018, the Agency MBS basis widened and interest rates declined sharply. As a result, we estimate that MITT's book value declined approximately (10.2)% to an estimated $17.21 for the fourth quarter from $19.16 at the end of the prior quarter. Against this backdrop, we were able to deploy capital into a pool of re-performing whole loans and several Non-QM pools alongside other Angelo Gordon funds during the fourth quarter. Through January, there has been a modest recovery in the market for risk assets and the Agency basis, and we estimate that book value increased approximately 2% through January 31, 2019. We continue to hold a favorable outlook on the investment landscape, and we have maintained our overall risk posture in this environment."
AG Mortgage Investment Trust announced that its Board of Directors has declared a dividend of 50c per common share for the second quarter of 2018, representing a 5.3% increase over the prior quarter dividend of 47.5c per common share. The dividend is payable on July 31, 2018 to shareholders of record at the close of business on June 29, 2018, with an ex-dividend date of June 28, 2018.