AG Mortgage Investment (MITT) Receives $18.25 Average Price Target from Brokerages

Shares of AG Mortgage Investment (NYSE:MITT) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong 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 $18.25.

Separately, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.25 price target on shares of AG Mortgage Investment in a research report on Thursday, March 1st.

In other news, CFO Brian C. Sigman purchased 7,200 shares of AG Mortgage Investment stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average price of $17.09 per share, with a total value of $123,048.00. Following the completion of the transaction, the chief financial officer now directly owns 38,500 shares of the company’s stock, valued at $657,965. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.27% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in AG Mortgage Investment in the third quarter worth approximately $117,000. MetLife Investment Advisors LLC purchased a new stake in AG Mortgage Investment in the fourth quarter worth approximately $273,000. OxFORD Asset Management LLP purchased a new stake in AG Mortgage Investment in the third quarter worth approximately $321,000. First Trust Advisors LP boosted its holdings in AG Mortgage Investment by 14.8% in the fourth quarter. First Trust Advisors LP now owns 25,237 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 3,254 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in AG Mortgage Investment in the fourth quarter worth approximately $874,000. Institutional investors own 65.62% of the company’s stock.

Shares of MITT traded down $0.02 on Friday, hitting $17.59. 108,203 shares of the stock traded hands, compared to its average volume of 141,234. The company has a market capitalization of $492.86, a P/E ratio of 9.25 and a beta of 0.70. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.03. AG Mortgage Investment has a one year low of $16.31 and a one year high of $19.95.

AG Mortgage Investment (NYSE:MITT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $22.67 million during the quarter, compared to the consensus estimate of $21.68 million. AG Mortgage Investment had a net margin of 92.01% and a return on equity of 11.23%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 10.80%. The ex-dividend date is Wednesday, March 28th.

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About AG Mortgage Investment

AG Mortgage Investment Trust, Inc, a real estate investment trust, focuses on investing in, acquiring, and managing a portfolio of residential mortgage assets, other real estate-related securities, and financial assets. The company invests in residential mortgage-backed securities (RMBS) issued or guaranteed by a U.S.

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