Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT – Get Free Report) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.00.
Several analysts have weighed in on the company. StockNews.com downgraded AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JMP Securities upped their price objective on shares of 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. Finally, Piper Sandler assumed coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company.
Check Out Our Latest Stock Analysis on MITT
AG Mortgage Investment Trust Stock Performance
AG Mortgage Investment Trust (NYSE:MITT – Get Free Report) last posted its earnings results 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). The firm had revenue of $99.82 million during the quarter, compared to the consensus estimate of $17.00 million. AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. During the same quarter last year, the company posted $0.08 EPS. As a group, sell-side analysts forecast that AG Mortgage Investment Trust will post 0.84 earnings per share for the current year.
AG Mortgage Investment Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 10.23%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 43.68%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MITT. Transcend Capital Advisors LLC lifted its holdings in AG Mortgage Investment Trust by 12.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 2,500 shares during the last quarter. Naviter Wealth LLC raised its holdings in shares of AG Mortgage Investment Trust by 30.9% in the 1st quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4,000 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in AG Mortgage Investment Trust during the second quarter valued at approximately $72,000. Algert Global LLC bought a new stake in AG Mortgage Investment Trust during the second quarter worth approximately $81,000. Finally, SG Americas Securities LLC acquired a new position in AG Mortgage Investment Trust in the third quarter worth approximately $93,000. 27.32% of the stock is owned by institutional investors and hedge funds.
AG Mortgage Investment Trust Company Profile
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.
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