AG Mortgage Investment Trust (NYSE:MITT) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of AG Mortgage Investment Trust (NYSE:MITT) from a hold rating to a buy rating in a research note published on Friday.

A number of other research firms have also recently issued reports on MITT. JMP Securities upped their price target on shares of 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. Piper Sandler assumed coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They set an “overweight” rating and a $9.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

AG Mortgage Investment Trust Price Performance

MITT opened at $7.26 on Friday. The company has a market capitalization of $214.10 million, a PE ratio of 4.68 and a beta of 2.05. AG Mortgage Investment Trust has a fifty-two week low of $4.90 and a fifty-two week high of $7.95. The business has a 50-day moving average of $7.42 and a 200-day moving average of $6.93.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The business had revenue of $99.82 million during the quarter, compared to the consensus estimate of $17.00 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts expect that AG Mortgage Investment Trust will post 0.84 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.47%. The ex-dividend date is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 49.03%.

Institutional Investors Weigh In On AG Mortgage Investment Trust

A number of institutional investors have recently added to or reduced their stakes in MITT. SG Americas Securities LLC acquired a new position in shares of AG Mortgage Investment Trust in the 3rd quarter valued at $93,000. Algert Global LLC bought a new stake in AG Mortgage Investment Trust in the second quarter valued at about $81,000. The Manufacturers Life Insurance Company acquired a new position in AG Mortgage Investment Trust in the second quarter worth about $72,000. Marshall Wace LLP lifted its stake in AG Mortgage Investment Trust by 32.0% during the second quarter. Marshall Wace LLP now owns 91,416 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 22,143 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of AG Mortgage Investment Trust by 34.6% in the 2nd quarter. Renaissance Technologies LLC now owns 559,462 shares of the real estate investment trust’s stock valued at $3,715,000 after purchasing an additional 143,799 shares during the period. 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.