AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Average Recommendation of “Moderate Buy” from Brokerages

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.1667.

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating on the stock in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AG Mortgage Investment Trust in a report on Friday, April 17th. Finally, JonesTrading raised their price target on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, February 17th.

AG Mortgage Investment Trust Stock Performance

Shares of MITT opened at $7.75 on Friday. The business’s fifty day simple moving average is $7.72 and its two-hundred day simple moving average is $8.14. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76. AG Mortgage Investment Trust has a 12 month low of $6.86 and a 12 month high of $9.27. The company has a market cap of $246.29 million, a price-to-earnings ratio of 19.36 and a beta of 1.66.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%.The business had revenue of $6.47 million for the quarter, compared to the consensus estimate of $21.97 million. Research analysts anticipate that AG Mortgage Investment Trust will post 1.09 earnings per share for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a boost from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23. AG Mortgage Investment Trust’s payout ratio is 240.00%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

A number of institutional investors and hedge funds have recently modified their holdings of MITT. Angelo Gordon & CO. L.P. boosted its stake in shares of AG Mortgage Investment Trust by 703.3% in the 3rd quarter. Angelo Gordon & CO. L.P. now owns 2,315,966 shares of the real estate investment trust’s stock worth $16,768,000 after buying an additional 2,027,676 shares during the last quarter. Millennium Management LLC purchased a new position in shares of AG Mortgage Investment Trust in the 4th quarter worth $2,002,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of AG Mortgage Investment Trust by 544.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 85,067 shares of the real estate investment trust’s stock worth $622,000 after buying an additional 71,868 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of AG Mortgage Investment Trust in the 1st quarter worth $359,000. Finally, Jane Street Group LLC purchased a new position in shares of AG Mortgage Investment Trust in the 4th quarter worth $421,000. 27.32% of the stock is currently owned by hedge funds and other institutional investors.

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).