Alexander Mortgage REIT Inc (NYSE:MITT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.23%.
Alexander Mortgage REIT Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.83 in the quarter versus EPS of $ in the year-earlier quarter.
Revenue: Decreased 0% to $35 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alexander Mortgage REIT Inc reported adjusted EPS income of $0.83 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $0.
Quoting Management: “MITT was not immune to the consequences of the challenging market environment during the second quarter,” said David Roberts, Chief Executive Officer. “Based on the heightened volatility in interest rates and in Agency MBS spreads, we responded, and expect to continue to respond, with measures we believe will help maximize long-term franchise value for our shareholders.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased to $0.83 in the quarter versus EPS of $ in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0 and has not changed. For the current year, the average estimate is a loss of $0, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)