Zacks Investment Research upgraded shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “AG Mortgage Investment Trust, Inc. is a real estate investment trust. The Company invests in, acquires and manages residential mortgage assets, other real estate-related securities and financial assets. Its non-Agency RMBS investments include fixed- and floating-rate securities, including investment grade and non investment grade. The Company’s Agency RMBS investments include mortgage pass-through securities and collateralized mortgage obligations. The Company mainly invests in CMBS and asset-backed securities. AG Mortgage Investment Trust, Inc. is headquartered in New York, New York. “
A number of other equities analysts have also recently issued reports on MITT. Credit Suisse Group reissued a hold rating and issued a $18.00 target price on shares of AG Mortgage Investment Trust in a report on Friday, May 5th. Wunderlich raised their target price on shares of AG Mortgage Investment Trust from $17.50 to $18.50 and gave the stock a hold rating in a report on Monday, May 8th. Keefe, Bruyette & Woods set a $18.00 target price on shares of AG Mortgage Investment Trust and gave the stock a hold rating in a report on Wednesday, May 10th. Finally, ValuEngine raised shares of AG Mortgage Investment Trust from a buy rating to a strong-buy rating in a report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $18.38.
AG Mortgage Investment Trust (MITT) traded down 0.38% on Wednesday, reaching $18.37. The company had a trading volume of 78,081 shares. AG Mortgage Investment Trust has a 12 month low of $13.88 and a 12 month high of $19.38. The firm has a 50-day moving average of $18.65 and a 200-day moving average of $18.00. The stock has a market capitalization of $508.94 million, a P/E ratio of 6.57 and a beta of 0.94.
AG Mortgage Investment Trust (NYSE:MITT) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. The firm had revenue of $19.80 million during the quarter. AG Mortgage Investment Trust had a return on equity of 12.66% and a net margin of 75.87%. On average, equities research analysts expect that AG Mortgage Investment Trust will post $1.74 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, June 19th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.90 dividend on an annualized basis and a yield of 10.34%. AG Mortgage Investment Trust’s dividend payout ratio is currently 68.10%.
A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in shares of AG Mortgage Investment Trust during the first quarter worth about $105,000. Creative Planning boosted its position in shares of AG Mortgage Investment Trust by 104.4% in the second quarter. Creative Planning now owns 5,858 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,992 shares in the last quarter. Hancock Holding Co. acquired a new position in shares of AG Mortgage Investment Trust during the first quarter worth about $186,000. Teza Capital Management LLC acquired a new position in shares of AG Mortgage Investment Trust during the first quarter worth about $197,000. Finally, Comerica Bank acquired a new position in shares of AG Mortgage Investment Trust during the first quarter worth about $232,000. 66.42% of the stock is currently owned by hedge funds and other institutional investors.
AG Mortgage Investment Trust Company Profile
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