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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.0714.

Several equities analysts recently commented on MITT shares. Weiss Ratings restated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price target on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating on the stock in a research report on Friday, May 1st. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Wednesday, June 17th. Finally, Piper Sandler cut their price objective on AG Mortgage Investment Trust from $10.00 to $9.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd.

AG Mortgage Investment Trust Stock Up 0.2%

Shares of MITT opened at $7.66 on Monday. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 23.76. The company has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $8.02. The stock has a market cap of $243.43 million, a price-to-earnings ratio of 19.14 and a beta of 1.62. AG Mortgage Investment Trust has a 12 month low of $6.86 and a 12 month high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.26 earnings per share 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 company had revenue of $6.47 million for the quarter, compared to analyst estimates of $21.97 million. Equities analysts predict that AG Mortgage Investment Trust will post 1.09 EPS for the current fiscal year.

AG Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.5%. AG Mortgage Investment Trust’s dividend payout ratio (DPR) is 240.00%.

Institutional Trading of AG Mortgage Investment Trust

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new position in shares of AG Mortgage Investment Trust in the first quarter valued at approximately $149,000. Bank of America Corp DE increased its holdings in AG Mortgage Investment Trust by 23.0% during the 1st quarter. Bank of America Corp DE now owns 42,541 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 7,968 shares in the last quarter. Renaissance Technologies LLC increased its holdings in AG Mortgage Investment Trust by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 305,996 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 10,255 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in 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 valued at $622,000 after purchasing an additional 71,868 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in AG Mortgage Investment Trust by 13.7% in the 1st quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 4,279 shares during the last quarter. 27.32% of the stock is owned by 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).