| Market Capitalization (Millions $) |
907 |
| Shares
Outstanding (Millions) |
46 |
| Employees |
330 |
| Revenues (TTM) (Millions $) |
150 |
| Net Income (TTM) (Millions $) |
67 |
| Cash Flow (TTM) (Millions $) |
-32 |
| Capital Exp. (TTM) (Millions $) |
27 |
Business Description
Mortgage Investment Corp. (MTGE) is a niche mortgage real estate investment trust (REIT) that invests primarily in non-agency residential mortgage-backed securities (RMBS). MTGE's investments comprise of a wide range of mortgage products, including prime, subprime, and Alt-A mortgages.
The company's primary objective is to generate a stable return for its shareholders through the acquisition and management of a diversified portfolio of mortgage-related assets, which consist of both agency and non-agency RMBS. MTGE uses leverage to enhance its returns and manages its assets to maintain a balanced risk profile.
As a mortgage REIT, MTGE operates under certain requirements set by the Internal Revenue Service (IRS) to maintain a special tax status that provides certain tax benefits to the company and its shareholders. As such, the company must distribute at least 90% of its taxable income to its shareholders in the form of dividends.
MTGE's strategy for investing in non-agency RMBS is to leverage the expertise and resources of its external manager, MTGE Management LLC, a wholly-owned subsidiary of Annaly Capital Management, Inc. The company's management team has significant experience in the mortgage industry, dating back to the early 1990s, and has established relationships with a wide range of mortgage originators, servicers, and other market participants.
MTGE's portfolio is generally structured to reduce the impact of prepayment risk, which is a significant factor for mortgage-backed securities. The company's primary focus is on generating income for its shareholders through interest payments and capital appreciation over the long term.
In summary, MTGE is a mortgage REIT that uses leverage to invest in a diversified portfolio of non-agency RMBS. The company's strategy focuses on generating stable income for its shareholders through the acquisition and management of high-quality mortgage-related assets while maintaining a balanced risk profile.
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