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

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.25.

Several research analysts recently weighed in on MITT shares. Credit Suisse Group set a $9.25 price target on AG Mortgage Investment Trust in a research report on Thursday, January 22nd. Citizens Jmp upped their price objective 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. Citigroup reaffirmed an “outperform” rating on shares of AG Mortgage Investment Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted 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 report on Thursday, December 18th. Finally, JonesTrading boosted their target price on shares of AG Mortgage Investment Trust from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in shares of AG Mortgage Investment Trust by 103.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 2,756 shares in the last quarter. CWM LLC raised its stake in shares of AG Mortgage Investment Trust by 173.6% during the 3rd quarter. CWM LLC now owns 5,437 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,450 shares during the period. Strs Ohio acquired a new position in shares of AG Mortgage Investment Trust during the 1st quarter worth approximately $39,000. Kemnay Advisory Services Inc. purchased a new position in shares of AG Mortgage Investment Trust during the 4th quarter valued at approximately $40,000. Finally, Russell Investments Group Ltd. lifted its position in shares of AG Mortgage Investment Trust by 103.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,614 shares in the last quarter. 27.32% of the stock is owned by hedge funds and other institutional investors.

AG Mortgage Investment Trust Trading Down 3.3%

NYSE MITT opened at $7.45 on Tuesday. The company has a market capitalization of $236.37 million, a PE ratio of 8.46 and a beta of 1.67. The company has a fifty day moving average of $8.36 and a 200 day moving average of $8.05. AG Mortgage Investment Trust has a 1 year low of $5.63 and a 1 year high of $9.27. The company has a debt-to-equity ratio of 21.38, a current ratio of 10.33 and a quick ratio of 10.33.

AG Mortgage Investment Trust (NYSE:MITT) last announced its quarterly earnings results on Tuesday, February 17th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). AG Mortgage Investment Trust had a return on equity of 14.42% and a net margin of 10.13%.The company had revenue of $23.86 million for the quarter, compared to analyst estimates of $23.16 million. Research analysts forecast that AG Mortgage Investment Trust will post 0.78 earnings per share for the current year.

AG Mortgage Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 12.9%. AG Mortgage Investment Trust’s dividend payout ratio is presently 104.55%.

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).