AG Mortgage Investment Trust (NYSE:MITT) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.81 and traded as high as $9.27. AG Mortgage Investment Trust shares last traded at $9.1820, with a volume of 298,426 shares changing hands.

Analyst Upgrades and Downgrades

MITT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. Zacks Research raised AG Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Jones Trading restated a “buy” rating and issued a $8.50 price target on shares of AG Mortgage Investment Trust in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

AG Mortgage Investment Trust Stock Performance

The business’s 50 day moving average price is $8.40 and its two-hundred day moving average price is $7.81. The company has a market capitalization of $291.44 million, a price-to-earnings ratio of 9.87 and a beta of 1.65.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $30.21 million for the quarter, compared to analysts’ expectations of $19.80 million. AG Mortgage Investment Trust had a net margin of 11.03% and a return on equity of 13.88%. On average, sell-side analysts expect that AG Mortgage Investment Trust, Inc. will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.92 annualized dividend and a yield of 10.0%. This is an increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 98.92%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in AG Mortgage Investment Trust by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 168,478 shares of the real estate investment trust’s stock worth $1,272,000 after buying an additional 1,350 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 2,756 shares in the last quarter. CWM LLC raised its position in AG Mortgage Investment Trust by 173.6% in the third quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 3,450 shares in the last quarter. Russell Investments Group Ltd. grew its position in AG Mortgage Investment Trust by 103.8% in the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,614 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in AG Mortgage Investment Trust by 23.1% during the 3rd quarter. Alliancebernstein L.P. now owns 20,270 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 3,800 shares during the last quarter. Institutional investors and hedge funds own 27.32% of the company’s stock.

AG Mortgage Investment Trust Company Profile

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).