AG Mortgage Investment Trust (NYSE:MITT) Given New $8.50 Price Target at Keefe, Bruyette & Woods

AG Mortgage Investment Trust (NYSE:MITT) had its price target lowered by investment analysts at Keefe, Bruyette & Woods from $9.00 to $8.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.28% from the stock’s previous close.

A number of other research firms have also issued reports on MITT. Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a report on Friday, April 17th. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a report on Thursday, January 22nd. JonesTrading raised their target price on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Citizens Jmp raised their target price on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AG Mortgage Investment Trust currently has an average rating of “Moderate Buy” and an average price target of $9.17.

AG Mortgage Investment Trust Stock Down 0.5%

Shares of MITT traded down $0.04 during trading hours on Friday, hitting $7.85. 57,515 shares of the company were exchanged, compared to its average volume of 261,683. The company has a market cap of $249.12 million, a PE ratio of 19.58 and a beta of 1.69. The firm’s 50 day moving average is $7.78 and its 200-day moving average is $8.08. AG Mortgage Investment Trust has a 52 week low of $6.33 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 21.38, a quick ratio of 10.33 and a current ratio of 10.33.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. The company had revenue of $6.47 million during the quarter, compared to the consensus estimate of $21.97 million. AG Mortgage Investment Trust had a return on equity of 14.93% and a net margin of 6.71%. On average, equities research analysts forecast that AG Mortgage Investment Trust will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several hedge funds and other institutional investors have recently modified their holdings of MITT. Strs Ohio bought a new position in shares of AG Mortgage Investment Trust during the 1st quarter worth approximately $39,000. Geode Capital Management LLC raised its position in AG Mortgage Investment Trust by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 686,894 shares of the real estate investment trust’s stock valued at $5,187,000 after purchasing an additional 26,315 shares during the last quarter. Cetera Investment Advisers raised its position in AG Mortgage Investment Trust by 79.0% in the 2nd quarter. Cetera Investment Advisers now owns 28,909 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 12,758 shares during the last quarter. First Trust Advisors LP raised its position in AG Mortgage Investment Trust by 4.6% in the 2nd quarter. First Trust Advisors LP now owns 95,801 shares of the real estate investment trust’s stock valued at $723,000 after purchasing an additional 4,256 shares during the last quarter. Finally, Sei Investments Co. bought a new position in AG Mortgage Investment Trust in the 2nd quarter valued at $79,000. Institutional investors 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).