Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

AG Mortgage Investment Trust, Inc. (MITT)

Company Dividend Discount ModelIndustry: REIT - MortgageSector: Real Estate

Valuation Snapshot

Stable Growth$7.45 - $10.10$8.80
Multi-Stage$54.13 - $60.35$57.17
Blended Fair Value$32.99
Current Price$7.24
Upside355.63%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-21.89%-12.47%0.600.580.650.360.492.061.841.861.782.27
YoY Growth--3.10%-10.22%80.12%-26.82%-76.16%11.86%-0.85%4.54%-21.77%0.06%
Dividend Yield--8.21%9.59%11.25%3.86%4.06%25.06%3.62%3.56%3.28%5.79%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49.67
(-) Cash Dividends Paid (M)21.59
(=) Cash Retained (M)28.08
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.936.213.72
Cash Retained (M)28.0828.0828.08
(-) Cash Required (M)-9.93-6.21-3.72
(=) Excess Retained (M)18.1421.8724.35
(/) Shares Outstanding (M)30.0130.0130.01
(=) Excess Retained per Share0.600.730.81
LTM Dividend per Share0.720.720.72
(+) Excess Retained per Share0.600.730.81
(=) Adjusted Dividend1.321.451.53
WACC / Discount Rate4.38%4.38%4.38%
Growth Rate-11.37%-10.37%-9.37%
Fair Value$7.45$8.80$10.10
Upside / Downside2.95%21.59%39.43%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49.6744.5239.9035.7632.0628.7329.60
Payout Ratio43.47%52.77%62.08%71.39%80.69%90.00%92.50%
Projected Dividends (M)21.5923.4924.7725.5325.8725.8627.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate4.38%4.38%4.38%
Growth Rate-11.37%-10.37%-9.37%
Year 1 PV (M)22.2622.5122.76
Year 2 PV (M)22.2322.7423.25
Year 3 PV (M)21.7122.4523.21
Year 4 PV (M)20.8421.7922.78
Year 5 PV (M)19.7420.8722.06
PV of Terminal Value (M)1,517.761,605.341,696.91
Equity Value (M)1,624.531,715.701,810.97
Shares Outstanding (M)30.0130.0130.01
Fair Value$54.13$57.17$60.35
Upside / Downside647.70%689.66%733.51%

High-Yield Dividend Screener

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