AG Mortgage Investment Trust (NYSE:MITT) Stock Gets Price Target Cut from JonesTrading

AG Mortgage Investment Trust (NYSE:MITT) had its price objective lowered by analysts at JonesTrading from $8.00 to $7.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. JonesTrading‘s target price points to a potential upside of 26.67% from the company’s current price.

Several other research firms have also commented on MITT. Citizens Jmp reduced their price target on AG Mortgage Investment Trust from $9.25 to $8.50 and set a “market outperform” rating on the stock in a report on Thursday, October 15th. Weiss Ratings cut shares of AG Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Citigroup restated a “market outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, October 15th. Finally, Piper Sandler reduced their target price on shares of AG Mortgage Investment Trust from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.38.

AG Mortgage Investment Trust Price Performance

AG Mortgage Investment Trust stock traded down $0.14 during trading on Wednesday, reaching $5.53. 515,300 shares of the company were exchanged, compared to its average volume of 268,633. AG Mortgage Investment Trust has a 52-week low of $5.20 and a 52-week high of $9.27. The company has a market capitalization of $175.73 million, a P/E ratio of 7.47 and a beta of 1.78. The stock’s 50 day simple moving average is $6.02 and its two-hundred day simple moving average is $7.34.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). AG Mortgage Investment Trust had a net margin of 8.55% and a return on equity of 15.59%. As a group, equities analysts forecast that AG Mortgage Investment Trust will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MITT. Sigma Planning Corp acquired a new stake in shares of AG Mortgage Investment Trust during the first quarter valued at about $82,000. Ullmann Wealth Partners Group LLC acquired a new position in shares of AG Mortgage Investment Trust in the 3rd quarter worth approximately $95,000. NewEdge Advisors LLC acquired a new position in shares of AG Mortgage Investment Trust in the 1st quarter worth approximately $149,000. Cetera Investment Advisers boosted its position in shares of AG Mortgage Investment Trust by 13.7% during the 1st quarter. Cetera Investment Advisers now owns 35,565 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 4,279 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of 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 worth $311,000 after purchasing an additional 7,968 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a real estate investment trust that invests primarily in residential mortgage-related assets. The company seeks to generate income through a portfolio that may include agency and non-agency residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights and other housing-related investments.

AG Mortgage Investment Trust’s investment activities are focused mainly on the U.S. residential mortgage market. Its portfolio may include loans and securities backed by a range of residential properties and borrowers, providing exposure to different segments of the housing and mortgage finance sectors.

Founded in 2011, the company is externally managed by AG REIT Management, LLC, an affiliate of Angelo Gordon, an alternative investment firm.