Profile: American Capital Mortgage Investment Corp (MTGE.O)
9 Dec 2016
MTGE Investment Corp., formerly American Capital Mortgage Investment Corp., incorporated on March 15, 2011, is a hybrid mortgage real estate investment trust (REIT). The Company invests in, finances and manages a portfolio of real estate-related investments, which the Company defines to include agency residential mortgage-backed securities (RMBS), non-agency mortgage investments, other mortgage-related investments and other real estate investments. Its objective is to generate risk-adjusted returns for distribution to its stockholders over the long-term through a combination of dividends and net book value appreciation. Agency RMBS include residential mortgage pass-through certificates and collateralized mortgage obligations (CMOs) structured from residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by a government-sponsored enterprise (GSE), such as Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as Government National Mortgage Association (Ginnie Mae). Non-agency mortgage investments include RMBS backed by residential mortgages that are not guaranteed by a GSE or the United States Government agency. The Company is externally-managed by a subsidiary of AGNC Investment Corp.
Non-agency mortgage investments may include prime and non-prime residential mortgage loans. Other mortgage-related investments may include mortgage servicing rights (MSR), GSE credit risk transfer securities (CRT), commercial mortgage-backed securities (CMBS), commercial mortgage loans and mortgage-related derivatives. Other real estate investments may include equity investments in properties subject to long-term triple-net leases with third party operators and debt investments in skilled nursing facility, and senior housing properties secured by mortgages on the underlying real estate and personal property. The Company invests in agency RMBS issued by Fannie Mae and Freddie Mac. Its other real estate investments may include equity investments in healthcare and independent living facilities, which would in turn be leased to third party operators to conduct the business operations of the facilities, and debt investments secured by such facilities.
American Capital Mortgage Investment Corp
2 Bethesda Metro Ctr Fl 12
BETHESDA MD 20814-6319