AG Mortgage Investment Trust, Inc. (MITT) To Go Ex-Dividend on March 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Monday, March 16th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.24 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 4.3% increase from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23.

AG Mortgage Investment Trust has raised its dividend payment by an average of 0.6%annually over the last three years and has raised its dividend every year for the last 2 years. AG Mortgage Investment Trust has a payout ratio of 84.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 81.4%.

AG Mortgage Investment Trust Stock Performance

Shares of MITT stock opened at $7.92 on Wednesday. The company has a quick ratio of 10.33, a current ratio of 10.33 and a debt-to-equity ratio of 21.38. The company has a 50 day moving average price of $8.42 and a 200-day moving average price of $8.05. AG Mortgage Investment Trust has a 52 week low of $5.63 and a 52 week high of $9.27. The firm has a market capitalization of $251.44 million, a PE ratio of 9.00 and a beta of 1.67.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data 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). AG Mortgage Investment Trust had a net margin of 10.13% and a return on equity of 14.42%. The company had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.16 million. As a group, equities research analysts expect that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citizens Jmp boosted their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.25 and gave the company a “market outperform” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price target on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. JonesTrading upped their price objective on AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Credit Suisse Group set a $9.25 target price on AG Mortgage Investment Trust in a report on Thursday, January 22nd. Finally, Citigroup reissued an “outperform” rating on shares of AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

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).