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

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.25.

Several research firms recently weighed in on MITT. Keefe, Bruyette & Woods increased their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price target (up previously from $9.00) on shares of AG Mortgage Investment Trust in a report on Monday, December 22nd. Citigroup reiterated an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Wall Street Zen upgraded AG Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, JonesTrading upped their target price on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday.

AG Mortgage Investment Trust Trading Down 0.3%

Shares of MITT stock opened at $8.36 on Friday. The firm has a market capitalization of $265.38 million, a P/E ratio of 9.50 and a beta of 1.69. AG Mortgage Investment Trust has a 1 year low of $5.63 and a 1 year high of $9.27. The firm’s fifty day simple moving average is $8.70 and its 200 day simple moving average is $7.98.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $22.98 million during the quarter, compared to the consensus estimate of $23.16 million. AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.58%. Equities research analysts anticipate that AG Mortgage Investment Trust will post 0.78 EPS for the current fiscal year.

AG Mortgage Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.21. AG Mortgage Investment Trust’s payout ratio is 98.92%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in AG Mortgage Investment Trust during the first quarter valued at approximately $39,000. Penserra Capital Management LLC bought a new position in shares of AG Mortgage Investment Trust during the 2nd quarter worth approximately $1,128,000. Geode Capital Management LLC boosted its stake 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 buying an additional 26,315 shares in the last quarter. Bailard Inc. boosted its stake in AG Mortgage Investment Trust by 8.2% in the 2nd quarter. Bailard Inc. now owns 82,000 shares of the real estate investment trust’s stock valued at $619,000 after buying an additional 6,200 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in AG Mortgage Investment Trust by 79.0% in the second quarter. Cetera Investment Advisers now owns 28,909 shares of the real estate investment trust’s stock valued at $218,000 after acquiring an additional 12,758 shares during the period. Institutional investors and hedge funds 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).