AG Mortgage Investment Trust, Inc. (MITT) to Issue Quarterly Dividend of $0.20 on April 30th

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Monday, March 17th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date is Monday, March 31st. This is a 5.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.19.

AG Mortgage Investment Trust has a dividend payout ratio of 75.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 $0.80 annual dividend with an expected future payout ratio of 70.8%.

AG Mortgage Investment Trust Trading Down 2.2 %

Shares of MITT stock opened at $7.48 on Friday. The stock has a market cap of $221.70 million, a P/E ratio of 3.28 and a beta of 2.05. AG Mortgage Investment Trust has a 1 year low of $5.44 and a 1 year high of $7.95. The stock has a 50 day simple moving average of $7.22 and a 200 day simple moving average of $7.14.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $22.00 million for the quarter, compared to the consensus estimate of $18.44 million. AG Mortgage Investment Trust had a return on equity of 9.70% and a net margin of 20.19%. Analysts forecast that AG Mortgage Investment Trust will post 0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

MITT has been the subject of a number of research reports. Jones Trading increased their target price on shares of AG Mortgage Investment Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, March 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $8.50 target price on shares of AG Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

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.