AG Mortgage Investment Trust (NYSE:MITT) Price Target Raised to $9.00 at JonesTrading

AG Mortgage Investment Trust (NYSE:MITT) had its price objective hoisted by equities researchers at JonesTrading from $8.50 to $9.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. JonesTrading’s target price suggests a potential upside of 5.08% from the company’s current price.

Several other research firms also recently commented on MITT. Keefe, Bruyette & Woods upped 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 report on Thursday, December 18th. Citigroup restated an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Wall Street Zen raised shares of AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Citizens Jmp increased their target price on AG Mortgage Investment Trust from $8.50 to $9.25 and gave the stock a “market outperform” rating in a research report on Thursday, January 22nd. Finally, Credit Suisse Group set a $9.25 price target on AG Mortgage Investment Trust in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.25.

AG Mortgage Investment Trust Trading Down 0.9%

Shares of NYSE:MITT traded down $0.08 during mid-day trading on Tuesday, reaching $8.57. The company had a trading volume of 91,183 shares, compared to its average volume of 185,095. AG Mortgage Investment Trust has a one year low of $5.63 and a one year high of $9.27. The company’s 50-day moving average price is $8.70 and its 200-day moving average price is $7.96. The firm has a market cap of $271.85 million, a price-to-earnings ratio of 9.21 and a beta of 1.69.

AG Mortgage Investment Trust (NYSE:MITT) last released its earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). AG Mortgage Investment Trust had a return on equity of 13.88% and a net margin of 11.03%.The firm had revenue of $22.98 million during the quarter, compared to analysts’ expectations of $23.16 million. On average, research analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new position in shares of AG Mortgage Investment Trust in the 2nd quarter worth $1,128,000. LSV Asset Management increased its stake in AG Mortgage Investment Trust by 23.6% in the second quarter. LSV Asset Management now owns 291,580 shares of the real estate investment trust’s stock valued at $2,201,000 after acquiring an additional 55,635 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in AG Mortgage Investment Trust during the fourth quarter valued at about $40,000. Russell Investments Group Ltd. lifted its stake in AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of AG Mortgage Investment Trust by 258.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,460 shares in the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.

About AG Mortgage Investment Trust

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).