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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Friday, January 31st. This represents a $0.76 annualized dividend and a dividend yield of 10.66%. The ex-dividend date is Tuesday, December 31st.

AG Mortgage Investment Trust has a payout ratio of 73.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:MITT traded down $0.10 during mid-day trading on Tuesday, reaching $7.13. The company’s stock had a trading volume of 208,264 shares, compared to its average volume of 216,922. AG Mortgage Investment Trust has a twelve month low of $5.44 and a twelve month high of $7.95. The company’s fifty day simple moving average is $7.06 and its two-hundred day simple moving average is $7.12. The stock has a market cap of $210.41 million, a P/E ratio of 3.13 and a beta of 2.01.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, AG Mortgage Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of $8.25.

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.