AG Mortgage Investment Trust (NYSE:MITT) Stock Price Passes Above Two Hundred Day Moving Average of $6.25

AG Mortgage Investment Trust, Inc. (NYSE:MITT)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.25 and traded as high as $6.97. AG Mortgage Investment Trust shares last traded at $6.84, with a volume of 226,396 shares traded.

Analysts Set New Price Targets

MITT has been the topic of a number of analyst reports. JMP Securities lifted their price objective on shares of AG Mortgage Investment Trust from $7.00 to $7.50 and gave the stock a “market outperform” rating in a research report on Thursday, May 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $7.50 price objective on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. StockNews.com raised shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, May 6th. Finally, Jonestrading reiterated a “buy” rating and issued a $8.00 target price on shares of AG Mortgage Investment Trust in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, AG Mortgage Investment Trust has an average rating of “Moderate Buy” and an average target price of $7.50.

AG Mortgage Investment Trust Stock Performance

The firm has a market capitalization of $201.43 million, a price-to-earnings ratio of 3.93 and a beta of 2.04. The firm’s 50 day simple moving average is $6.48 and its 200 day simple moving average is $6.25.

AG Mortgage Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.12%. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, June 28th. AG Mortgage Investment Trust’s payout ratio is 41.38%.

Hedge Funds Weigh In On AG Mortgage Investment Trust

Several institutional investors have recently made changes to their positions in the company. Beach Point Capital Management LP increased its holdings in AG Mortgage Investment Trust by 68.0% in the 4th quarter. Beach Point Capital Management LP now owns 575,199 shares of the real estate investment trust’s stock worth $3,653,000 after acquiring an additional 232,895 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in AG Mortgage Investment Trust in the 1st quarter worth $704,000. Wolverine Asset Management LLC increased its holdings in AG Mortgage Investment Trust by 64.1% in the 4th quarter. Wolverine Asset Management LLC now owns 132,369 shares of the real estate investment trust’s stock worth $841,000 after acquiring an additional 51,709 shares in the last quarter. Jump Financial LLC purchased a new stake in AG Mortgage Investment Trust in the 4th quarter worth $280,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in AG Mortgage Investment Trust in the 4th quarter worth $231,000. 27.32% of the stock is owned by hedge funds and other institutional investors.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio includes residential investments, including non-agency loans, agency-eligible loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities.