MITT - AG Mortgage Investment sees Q3 book value sliding while liquidity stays strong

• AG Mortgage Investment Trust ( NYSE: MITT ) has estimated its third-quarter adjusted book value of $10.63-10.73 per share as of September 30, down from $11.15 at June 30, it said Monday.
• The mortgage REIT, though, said its liquidity position remained strong, with total liquidity estimated to be $79.7M at the end of September, consisting of $77.6M in cash and $2.1M in agency mortgage-backed securities.
• Also, its investment portfolio is expected to rise to $4.3B from $4.1B at the end of June.
• The company's leverage, as measured by its economic leverage ratio, is estimated to be 2.0x versus 2.7x at June 30.
• During Q3, the company repurchased 0.5M of its common stock at a cost of $2.7M. Shares dropped 34.2% at the time.
• The company is set to report its Q3 earnings on November 4. The average Wall Street analyst views MITT stock as a Hold .

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