AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $7.75 Average PT from Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.00.

Several research firms have weighed in on MITT. Piper Sandler began coverage on AG Mortgage Investment Trust in a report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price target on the stock. Jonestrading reaffirmed a “buy” rating and issued a $8.00 price target on shares of AG Mortgage Investment Trust in a report on Friday, May 3rd. StockNews.com raised AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, May 6th. JMP Securities raised their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $7.50 price objective on shares of AG Mortgage Investment Trust in a report on Monday, June 17th.

AG Mortgage Investment Trust Stock Down 1.6 %

NYSE:MITT opened at $7.60 on Friday. The business’s 50-day moving average price is $6.98 and its two-hundred day moving average price is $6.42. AG Mortgage Investment Trust has a twelve month low of $4.82 and a twelve month high of $7.86. The stock has a market cap of $224.00 million, a P/E ratio of 4.37 and a beta of 2.06.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.00%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, June 28th. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 43.68%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors and hedge funds have recently bought and sold shares of MITT. Raymond James Financial Services Advisors Inc. bought a new position in AG Mortgage Investment Trust during the 4th quarter worth approximately $231,000. Allworth Financial LP bought a new position in AG Mortgage Investment Trust during the 4th quarter worth approximately $87,000. Nisa Investment Advisors LLC grew its position in AG Mortgage Investment Trust by 37.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,069 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 2,718 shares during the last quarter. Wolverine Asset Management LLC grew its position in shares of AG Mortgage Investment Trust by 64.1% in the 4th quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock worth $841,000 after buying an additional 51,709 shares during the last quarter. Finally, Naviter Wealth LLC bought a new stake in shares of AG Mortgage Investment Trust in the 4th quarter worth approximately $83,000. 27.32% of the stock is currently owned by institutional investors.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.