AG Mortgage Investment Trust, Inc. (NYSE:MITT) Plans Quarterly Dividend of $0.19

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.76 annualized dividend and a yield of 9.64%. The ex-dividend date is Monday, September 30th.

AG Mortgage Investment Trust has a dividend payout ratio of 72.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Stock Up 0.1 %

AG Mortgage Investment Trust stock opened at $7.88 on Wednesday. The firm has a 50 day moving average price of $7.24 and a 200-day moving average price of $6.65. AG Mortgage Investment Trust has a twelve month low of $4.82 and a twelve month high of $7.94. The company has a market capitalization of $232.26 million, a P/E ratio of 4.52 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). AG Mortgage Investment Trust had a net margin of 17.20% and a return on equity of 9.44%. The firm had revenue of $99.82 million during the quarter, compared to analysts’ expectations of $17.00 million. During the same quarter in the previous year, the company posted $0.08 EPS. Equities analysts expect that AG Mortgage Investment Trust will post 0.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JMP Securities lifted their price objective on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Piper Sandler started coverage on shares of AG Mortgage Investment Trust in a research note on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a report on Monday, June 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

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.