Stock Alert: AG Mortgage Investment Trust Tumbles 26%

(RTTNews) - Shares of AG Mortgage Investment Trust Inc. (MITT) are currently losing more than 26 percent at $3.37, after falling more than 41 percent in early trades.

The shares have traded in a range of $2.03 to $17.56 in the past 52 weeks.

AG Mortgage Investment Trust said that due to the turmoil in the financial markets resulting from the COVID-19 pandemic, the company and its subsidiaries have received an unusually high number of margin calls from financing counterparties in recent weeks.

Through Friday March 20, the company timely met or is in the process of meeting all margin calls received. However, the company notified its financing counterparties that it does not expect to be able to fund the anticipated volume of future margin calls under its financing arrangements in the near term due to market disruptions created by the COVID-19 pandemic.

AG Mortgage Investment said it is in talks with its financing counterparties about entering into such agreements, but cannot predict whether it will materialize. The company has engaged Hunton Andrews Kurth LLP as legal counsel and FTI LLC as financial advisor in connection with its financing and related matters.