AG Mortgage Investment Trust, Inc. (NYSE:MITT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) 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.

AG Mortgage Investment Trust Stock Performance

AG Mortgage Investment Trust stock opened at $7.43 on Wednesday. AG Mortgage Investment Trust has a one year low of $4.82 and a one year high of $7.95. The company has a 50-day simple moving average of $7.30 and a 200-day simple moving average of $6.86. The firm has a market capitalization of $218.99 million, a P/E ratio of 4.27 and a beta of 2.05.

AG Mortgage Investment Trust (NYSE:MITT) 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.