AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the “Company” or “MITT”) announced today that, as part of the 36th annual reconstitution of the Russell stock indexes, MITT is expected to be included in the Russell 3000® Index effective at the open of U.S. equity markets on July 1, 2024. A preliminary list of index additions, including MITT, was posted by FTSE Russell on May 24, 2024.
“We are pleased to be included in the Russell 3000® Index, one of the most widely cited performance benchmarks for the U.S. stock market,” said TJ Durkin, Chief Executive Officer and President. “This milestone highlights the success of our growth initiatives, expands our investor base and will provide increased visibility and exposure to the investment community.” Mr. Durkin added, “MITT’s inclusion in the index signals the importance of our market position as a leading residential mortgage REIT and we will continue to execute our strategy to deliver value for our stockholders.”
Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. The largest 1,000 stocks indexed in the Russell 3000® Index constitute the Russell 1000® Index, while the Russell 2000® Index is a subset of the smallest 2,000 components of the Russell 3000® Index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.5 trillion in assets are benchmarked to or invested in products based on the Russell US Indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About AG Mortgage Investment Trust, Inc.
AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG.
Additional information can be found on the Company’s website at www.agmit.com.
About TPG Angelo Gordon
Founded in 1988, Angelo, Gordon & Co., L.P. (“TPG Angelo Gordon”) is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $80 billion across a broad range of credit and real estate strategies. For more information, visit www.angelogordon.com.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “should,” “may,” “projects,” “could,” “estimates” or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements regarding the Company include, but are not limited to, statements regarding the Russell 3000® Index reconstitution, including the anticipated timing of the Company’s inclusion in the Russell 3000® Index and the potential benefits of such inclusion, and the Company’s ability to continue to execute its strategy to deliver value for its stockholders. These forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, without limitation, the risk factors contained in the Company’s filings with the Securities and Exchange Commission (“SEC”), including those described under the headings “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in other reports and documents filed by the Company with the SEC from time to time. Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this press release are made only as of the date of this press release or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.
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