Core Insights - The article discusses the author's long-term investment strategy, focusing on REITs, preferred stocks, and high-yield bonds, which began in high school in 2011 [1] - The author has recently combined long stock positions with covered calls and cash secured puts, indicating a more sophisticated approach to investing [1] - The primary focus of the author's analysis on Seeking Alpha is on REITs and financials, with occasional insights on ETFs and macro-driven stock ideas [1] Investment Strategy - The investment approach is fundamentally driven, emphasizing long-term perspectives rather than short-term gains [1] - The author has developed a fascination with markets and the economy over the years, suggesting a deep understanding of market dynamics [1] Coverage Focus - The author primarily covers REITs and financial sectors, indicating a specialization that may provide in-depth insights into these areas [1] - Occasional articles on ETFs and other stocks suggest a broader market awareness and the ability to identify macroeconomic trends [1]

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Unaudited Q1 2025 financial statements report total assets at $7.32 billion, with net income available to common stockholders at $6.2 million, a decrease from Q1 2024 due to lower other income [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to $7.32 billion as of March 31, 2025, driven by securitized residential mortgage loans, with total liabilities also growing to $6.78 billion and stockholders' equity remaining stable at $543.9 million Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$7,323,220** | **$6,913,609** | | Securitized residential mortgage loans, at fair value | $6,542,243 | $6,197,678 | | Residential mortgage loans, at fair value | $269,238 | $220,217 | | Cash and cash equivalents | $115,549 | $118,662 | | **Total Liabilities** | **$6,779,350** | **$6,370,186** | | Securitized debt, at fair value | $5,836,691 | $5,491,967 | | Financing arrangements | $806,554 | $742,108 | | **Total Stockholders' Equity** | **$543,870** | **$543,423** | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2025 net income decreased to $11.5 million, resulting in $6.2 million ($0.21 per diluted share) available to common stockholders, primarily due to a significant reduction in total other income Quarterly Operating Results (in thousands, except per share data) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Total Net Interest Income | $18,849 | $17,179 | | Total Other Income/(Loss) | $1,549 | $10,811 | | Total Expenses | $10,106 | $9,137 | | Net Income/(Loss) | $11,477 | $20,890 | | Net Income/(Loss) Available to Common Stockholders | $6,173 | $16,304 | | Diluted EPS | $0.21 | $0.55 | [Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity slightly increased to $543.9 million by March 31, 2025, driven by $11.5 million net income, largely offset by $11.2 million in common and preferred dividends - In Q1 2025, the company declared a common dividend of **$0.20 per share**, an increase from the **$0.18 per share** declared in Q1 2024[18](index=18&type=chunk) Changes in Stockholders' Equity (Q1 2025, in thousands) | Description | Amount | | :--- | :--- | | Balance at January 1, 2025 | $543,423 | | Net Income/(Loss) | $11,477 | | Common dividends declared | ($5,932) | | Preferred dividends declared | ($5,306) | | **Balance at March 31, 2025** | **$543,870** | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 saw a net cash decrease of $9.4 million, with $12.0 million from operations, $314.7 million used in investing, and $293.4 million provided by financing activities Net Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash from operating activities | $11,997 | $11,972 | | Net cash used in investing activities | ($314,725) | ($248,231) | | Net cash from financing activities | $293,377 | $227,320 | | **Net change in cash** | **($9,351)** | **($8,939)** | [Notes to Consolidated Financial Statements (unaudited)](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements%20(unaudited)) Notes detail the company's organization, accounting policies, financial instruments, and portfolio composition, operating as a single segment, with subsequent events including a dividend and a loan default - The company is a residential mortgage REIT focused on acquiring and securitizing newly-originated non-agency residential mortgage loans, primarily sourced through its affiliate Arc Home, in which it holds a **44.6% interest**[25](index=25&type=chunk) - The company operates as a single reportable segment named 'Loans and Securities', reflecting its integrated management approach to its investment portfolio[31](index=31&type=chunk)[239](index=239&type=chunk) - Subsequent to the quarter end, a borrower defaulted on the maturity of three Legacy WMC Commercial Loans (Loan A, B, and C) on May 6, 2025, with a short-term forbearance agreement being negotiated[243](index=243&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported Q1 2025 book value of $10.65 per share and EAD of $0.20 per diluted share, increasing the common dividend to $0.20 per share, with robust investment activity including a $423.3 million securitization, and maintaining economic leverage at 1.6x and GAAP leverage at 12.4x Q1 2025 Financial Highlights | Metric | Value | | :--- | :--- | | Book Value per share | $10.65 | | Net Income per diluted common share | $0.21 | | Earnings Available for Distribution (EAD) per diluted common share | $0.20 | | GAAP Leverage Ratio | 12.4x | | Economic Leverage Ratio | 1.6x | | Common Dividend Declared | $0.20 | - The company executed a rated securitization of Agency-Eligible Loans with a total unpaid principal balance of **$423.3 million**, converting recourse financing to non-recourse, non-mark-to-market financing[256](index=256&type=chunk) - The company's investment strategy focuses on acquiring and securitizing newly-originated residential mortgage loans, sourced through its affiliate Arc Home and other third-party partners, utilizing TPG Angelo Gordon's securitization platform[258](index=258&type=chunk) - Market conditions in Q1 2025 saw wider RMBS spreads and a **14% QoQ increase** in primary RMBS market activity to **$39 billion**, with the Non-QM sector showing the sharpest growth[274](index=274&type=chunk)[275](index=275&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=67&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate, liquidity, and credit risks, managing interest rate exposure with a 1.38-year duration gap and mitigating liquidity risk with cash reserves, while a 75 bps rate rise could decrease GAAP equity by 2.8% - The company's primary market risks are identified as interest rate, liquidity, real estate, credit, prepayment, basis, and capital markets risk[425](index=425&type=chunk) - The company's total portfolio duration was **1.38 years** as of March 31, 2025, indicating its sensitivity to interest rate changes[433](index=433&type=chunk)[434](index=434&type=chunk) Interest Rate Sensitivity Analysis (as of March 31, 2025) | Change in Interest Rates (bps) | Change in Fair Value as a % of GAAP Equity | Change in Fair Value as a % of Assets | % Change in Projected Net Interest Income | | :--- | :--- | :--- | :--- | | 75 | (2.8)% | (0.2)% | 0.1% | | 50 | (1.8)% | (0.1)% | 0.2% | | 25 | (0.9)% | (0.1)% | 0.1% | | (25) | 0.9% | 0.1% | (0.1)% | | (50) | 1.7% | 0.1% | (0.3)% | | (75) | 2.5% | 0.2% | (0.5)% | [Item 4. Controls and Procedures](index=71&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, ensuring timely and accurate information reporting, with no material changes to internal control over financial reporting identified during the quarter - The company's principal executive officer and principal financial officer concluded that disclosure controls and procedures were effective as of March 31, 2025[457](index=457&type=chunk) - There were no changes in the company's internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, such controls[458](index=458&type=chunk) [PART II. OTHER INFORMATION](index=72&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=72&type=section&id=Item%201.%20Legal%20Proceedings) The company is not a party to any litigation or legal proceedings that would materially adversely affect its financial condition or results of operations - The company is not currently involved in any material legal proceedings[459](index=459&type=chunk) [Item 1A. Risk Factors](index=72&type=section&id=Item%201A.%20Risk%20Factors) No new risk factors are presented in this report, with reference made to those previously disclosed in the Annual Report on Form 10-K for 2024 and subsequent filings - The report refers readers to the Risk Factors section of the company's Annual Report on Form 10-K for the year ended December 31, 2024[460](index=460&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=72&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities were reported during the period - None[461](index=461&type=chunk) [Item 3. Defaults Upon Senior Securities](index=72&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported during the period - None[462](index=462&type=chunk) [Item 4. Mine Safety Disclosures](index=72&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - None[463](index=463&type=chunk) [Item 5. Other Information](index=72&type=section&id=Item%205.%20Other%20Information) Stockholders approved the 2025 Equity Incentive Plan and other proposals, including director elections and auditor ratification, at the Annual Meeting on May 5, 2025 - Stockholders approved the Company's 2025 Equity Incentive Plan at the Annual Meeting on May 5, 2025[464](index=464&type=chunk) - All six director nominees were elected, the appointment of Deloitte & Touche LLP was ratified, and executive compensation was approved on an advisory basis at the 2025 Annual Meeting[465](index=465&type=chunk) [Item 6. Exhibits](index=74&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including articles of incorporation, bylaws, indentures, and Sarbanes-Oxley certifications - The report includes a list of exhibits filed, such as the 2025 Equity Incentive Plan and Sarbanes-Oxley certifications[468](index=468&type=chunk)[469](index=469&type=chunk)

Core Insights - AG Mortgage Investment Trust (MITT) reported quarterly earnings of $0.20 per share, missing the Zacks Consensus Estimate of $0.24 per share, and down from $0.21 per share a year ago, representing an earnings surprise of -16.67% [1] - The company posted revenues of $18.85 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.80%, and up from $17.18 million year-over-year [2] - The stock has lost about 0.3% since the beginning of the year, outperforming the S&P 500's decline of -3.9% [3] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.27 on $20 million in revenues, and $1.06 on $82 million in revenues for the current fiscal year [7] - The estimate revisions trend for AG Mortgage Investment Trust is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The REIT and Equity Trust industry is currently in the top 37% of Zacks industries, suggesting that stocks in the top 50% of Zacks-ranked industries tend to outperform the bottom 50% by more than 2 to 1 [8]

[Company Overview](index=7&type=section&id=Company_Overview) Focuses on MITT's core strategy as a residential mortgage REIT and its approach to Non-Agency loan securitizations [Business Strategy](index=7&type=section&id=Business_Strategy) AG Mortgage Investment Trust, Inc. (MITT) positions itself as a pure-play residential mortgage REIT focused on generating attractive risk-adjusted returns - MITT's core business model is the aggregation and securitization of Non-Agency residential loans to generate long-term returns[9](index=9&type=chunk) - The company's strategic pillars include maintaining a high-quality portfolio, having sufficient liquidity, a disciplined approach to securitization and leverage, and accessing investment opportunities with a credit-first mindset[10](index=10&type=chunk) [Q1 2025 Financial & Performance Highlights](index=9&type=section&id=Q1_2025_Financial_and_Performance_Highlights) Summarizes MITT's Q1 2025 financial position, including book value, portfolio growth, and key performance metrics like EAD and dividend [Q1 2025 Financial Position](index=9&type=section&id=Q1_2025_Financial_Position) As of Q1 2025, the company reported a stable book value per share of $10.65, an investment portfolio of $7.1 billion, and maintained a low economic leverage ratio of 1.6x Key Financial Metrics (Q1 2025 vs Q4 2024) | Metric | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Book Value per Share | $10.65 | $10.64 | | Investment Portfolio | $7.1 billion | $6.7 billion | | Total Equity | $543.9 million | - | | Liquidity | $132.5 million | - | | Economic Leverage Ratio | 1.6x | - | - The investment portfolio grew from **$6.7 billion** in Q4 2024 to **$7.1 billion** in Q1 2025, primarily driven by an increase in securitized loans[14](index=14&type=chunk) - The financing profile is predominantly composed of non-recourse debt, which increased to **$6.7 billion** from **$6.4 billion** in the prior quarter[14](index=14&type=chunk) [Q1 2025 Performance](index=11&type=section&id=Q1_2025_Performance) In Q1 2025, MITT reported Earnings Available for Distribution (EAD) of $0.20 per share, supporting a 5.3% increase in the common dividend to $0.20 per share Q1 2025 Earnings and Dividend Summary | Metric | Value | | :--- | :--- | | Net Interest Income | $19.6 million | | GAAP Earnings per Share | $0.21 | | EAD per Share | $0.20 | | Dividend per Share | $0.20 | - The company remained active in its securitization strategy, executing a securitization of **$423.3 million UPB** of Agency-Eligible Loans[17](index=17&type=chunk) - MITT continued to grow its Home Equity Loan portfolio, purchasing **$128.2 million** in Q1 and an additional **$52.4 million** in April[17](index=17&type=chunk) - Arc Home's performance improved, reaching breakeven due to strong volumes and better margins, which enhanced its EAD contribution to MITT[18](index=18&type=chunk) [Investment Portfolio Analysis](index=13&type=section&id=Investment_Portfolio_Analysis) Provides a detailed breakdown of MITT's investment portfolio, securitization activities, loan composition, and the role of Arc Home [Securitization Activity](index=13&type=section&id=Securitization_Activity) MITT operates as a programmatic issuer of Non-Agency securitizations, a core strategy to generate attractive equity returns - The company's securitization strategy involves three steps: acquiring loans, securitizing them through its "GCAT" shelf or partnerships, and retaining bonds to reinvest[24](index=24&type=chunk) - Since 2021, MITT has acquired over **$9 billion** in residential mortgage loans and completed **24 securitizations**[24](index=24&type=chunk) - The securitized loan portfolio has shown significant growth, as depicted by the portfolio growth chart[25](index=25&type=chunk) [Loan Portfolio Composition](index=15&type=section&id=Loan_Portfolio_Composition) The loan portfolio is predominantly composed of Non-Agency Loans, which make up 82.3% of the equity invested, with a total fair value of $6.7 billion - The majority of equity (**$331.0 million**) is invested in Non-Agency Loans (**82.3%**), followed by Home Equity Loans (**12.5%**) and Re/Non-Performing Loans (**5.2%**)[29](index=29&type=chunk)[33](index=33&type=chunk) Non-Agency Loan Portfolio Characteristics | Metric | Value | | :--- | :--- | | Unpaid Principal Balance | $6.7 billion | | Coupon | 5.7% | | FICO | 765 | | Current LTV | 59% | | 90+ Days DQ % | 1.3% | Home Equity Loan Portfolio Characteristics | Metric | Value | | :--- | :--- | | Unpaid Principal Balance | $214.7 million | | Coupon | 10.3% | | FICO | 750 | | CLTV | 63% | | 90+ Days DQ % | 0.0% | [Legacy WMC Commercial Investments](index=17&type=section&id=Legacy_WMC_Commercial_Investments) The legacy WMC commercial portfolio, acquired via merger, constitutes a small portion of the overall business, representing 1.7% of the investment portfolio and 10.5% of total equity - This legacy portfolio has a fair value of **$119.8 million**, with collateral primarily in Multifamily (**49.5%**) and Office (**40.5%**) properties[38](index=38&type=chunk) - The two remaining commercial loans are first mortgages, collateralized by hotel and retail properties, with borrowers current on payments[39](index=39&type=chunk) - The CMBS portfolio has a weighted average unlevered yield of **17.2%** and a weighted average price of **54%**, offering potential book value upside[39](index=39&type=chunk) [Arc Home: Proprietary Origination Channel](index=19&type=section&id=Arc_Home_Origination_Channel) Arc Home serves as MITT's proprietary mortgage origination channel, with its Q1 2025 contribution to MITT's EAD turning positive due to increased lock volume and improved margins - MITT's investment in Arc Home was valued at **$32.2 million**, representing **5.9%** of MITT's total equity as of March 31, 2025[43](index=43&type=chunk) - Arc Home's lock volume increased by **48%** from Q1 2024, indicating strong origination activity[43](index=43&type=chunk) - Arc Home's contribution to MITT's EAD per share improved from negative **$(0.02)** in Q4 2024 to breakeven (**$0.00**) in Q1 2025[43](index=43&type=chunk) - In Q1 2025, MITT purchased **$715.9 million (UPB)** of loans from Arc Home[43](index=43&type=chunk) [Detailed Investment Portfolio Table](index=21&type=section&id=Detailed_Investment_Portfolio_Table) The total investment portfolio of $7.1 billion is financed with $6.8 billion in debt, resulting in $471.8 million of invested equity and an economic leverage of 1.6x Q1 2025 Investment Portfolio Summary | Metric | Value | | :--- | :--- | | Total Asset FMV | $7,115.0 million | | Total Financing | $6,823.2 million | | Total Economic Equity | $471.8 million | | Portfolio Yield | 6.0% | | Portfolio Cost of Funds | 5.3% | | Portfolio Economic Leverage | 1.6x | | Portfolio ROE | 18.3% | - Securitized Non-Agency Loans are the largest component, with **$6.4 billion** in fair value and generating a **17.5% ROE**[46](index=46&type=chunk) - Higher-yielding assets include Home Equity Loans (**20.9% ROE**), Securitized RPL/NPL Loans (**26.7% ROE**), and Legacy WMC CMBS (**26.8% ROE**)[46](index=46&type=chunk) [Financing & Capital Structure](index=23&type=section&id=Financing_and_Capital_Structure) Details MITT's financing profile, emphasizing securitized debt and low economic leverage, along with book value reconciliation [Q1 2025 Financing Profile](index=23&type=section&id=Q1_2025_Financing_Profile) MITT's investment portfolio is primarily financed through term, non-mark-to-market securitized debt, which comprises $5.8 billion of the total $6.7 billion in GAAP financing GAAP Financing Breakdown (Q1 2025) | Financing Type | Amount (in millions) | Cost of Funds | | :--- | :--- | :--- | | Securitized Debt | $5,836.7 | 5.2% | | Residential Bond Financing | $520.3 | 5.6% | | Residential Loan Financing | $223.0 | 6.3% | | Legacy WMC Commercial Financing | $62.5 | 7.2% | | Senior Unsecured Notes | $95.9 | 10.6% | | **Total GAAP Financing** | **$6,739.1** | **5.3%** | - The company maintains a low economic leverage ratio of **1.6x**, with the majority of leverage attributed to securitized debt (**0.9x**) and residential bond financing (**0.4x**)[52](index=52&type=chunk) [Book Value Roll-Forward](index=25&type=section&id=Book_Value_Roll-Forward) The company's book value per share experienced a slight increase of $0.01 during Q1 2025, moving from $10.64 to $10.65 Q1 2025 Book Value Per Share Reconciliation | Description | Per Diluted Share | | :--- | :--- | | **12/31/2024 Book Value** | **$10.64** | | Common dividend | ($0.20) | | Earnings available for distribution ("EAD") | $0.20 | | Net realized/unrealized gains & other | ($0.01) | | **3/31/2025 Book Value** | **$10.65** | | **Change in Book Value** | **$0.01** | [Appendix & Reconciliations](index=27&type=section&id=Appendix_and_Reconciliations) Offers supplementary financial details, including reconciliations for EAD and economic leverage, and condensed financial statements [EAD Reconciliation](index=27&type=section&id=EAD_Reconciliation) For Q1 2025, GAAP Net Income available to common stockholders was $6.2 million ($0.21 per share), with EAD totaling $6.0 million ($0.20 per share) after adjustments Reconciliation of GAAP Net Income to EAD (Q1 2025) | Description (in thousands) | Amount | Per Diluted Share | | :--- | :--- | :--- | | Net Income available to common stockholders | $6,173 | $0.21 | | Adjustments (unrealized gains, transaction costs, etc.) | ($191) | ($0.01) | | **Earnings Available for Distribution (EAD)** | **$5,982** | **$0.20** | - The primary components of EAD were Net Interest Income of **$19.6 million**, offset by total operating expenses of **$14.4 million**[57](index=57&type=chunk) [Economic Leverage Reconciliation](index=31&type=section&id=Economic_Leverage_Reconciliation) The company reconciles its GAAP leverage of $6.7 billion to its non-GAAP Economic Leverage of $850.7 million, resulting in a GAAP Leverage Ratio of 12.4x and an Economic Leverage Ratio of 1.6x Leverage Ratio Reconciliation (as of March 31, 2025) | Metric | Value | | :--- | :--- | | GAAP Leverage | $6,734.1 million | | Less: Non-recourse financing | ($5,883.4 million) | | **Economic Leverage** | **$850.7 million** | | GAAP Stockholders' Equity | $543.9 million | | **GAAP Leverage Ratio** | **12.4x** | | **Economic Leverage Ratio** | **1.6x** | [Condensed Financial Statements](index=33&type=section&id=Condensed_Financial_Statements) The condensed consolidated balance sheet shows total assets grew to $7.32 billion, while the statement of operations reported a Net Income of $11.5 million for Q1 2025 - Total assets increased to **$7.32 billion** as of March 31, 2025, from **$6.91 billion** as of December 31, 2024[64](index=64&type=chunk) - Total stockholders' equity remained stable at **$543.9 million**[64](index=64&type=chunk) Condensed Statement of Operations (Q1 2025 vs Q1 2024) | (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Net Interest Income | $18,849 | $17,179 | | Total Other Income/(Loss) | $1,549 | $10,811 | | Total Expenses | $10,106 | $9,137 | | **Net Income/(Loss)** | **$11,477** | **$20,890** |

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for AG Mortgage Investment Trust (MITT) due to higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - AG Mortgage Investment Trust is expected to report quarterly earnings of $0.24 per share, reflecting a year-over-year increase of 14.3% [3]. - Revenues are projected to be $19 million, which is a 10.6% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 3.57% over the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for AG Mortgage Investment Trust aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the lack of recent analyst revisions makes it challenging to predict an earnings beat for AG Mortgage Investment Trust [11]. - The company has not surpassed consensus EPS estimates in the last four quarters, with a previous quarter's surprise of -5.26% [12][13]. Industry Comparison - In contrast, Redwood Trust (RWT) is expected to report earnings of $0.17 per share, a significant year-over-year increase of 112.5%, with revenues projected at $31.31 million, up 30.5% [17]. - Redwood Trust's consensus EPS estimate has been revised up by 9.6% in the last 30 days, resulting in a positive Earnings ESP of 3.85% and a Zacks Rank of 1, indicating a strong likelihood of beating the consensus [18].