AG Mortgage Investment Trust, Inc. (MITT) to Issue Quarterly Dividend of $0.19 on July 31st

AG Mortgage Investment Trust, Inc. (NYSE:MITT) announced a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, July 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date is Friday, June 28th. This is a positive change from AG Mortgage Investment Trust’s previous quarterly dividend of $0.18.

AG Mortgage Investment Trust has a payout ratio of 81.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

AG Mortgage Investment Trust Stock Performance

Shares of MITT opened at $6.74 on Wednesday. The stock has a 50-day moving average of $6.51 and a two-hundred day moving average of $6.25. The stock has a market cap of $198.63 million, a P/E ratio of 3.87 and a beta of 2.04. AG Mortgage Investment Trust has a one year low of $4.82 and a one year high of $6.99.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MITT shares. JMP Securities lifted their target price on AG Mortgage Investment Trust from $7.00 to $7.50 and gave the stock a “market outperform” rating in a report on Thursday, May 30th. Jonestrading reiterated a “buy” rating and issued a $8.00 price objective on shares of AG Mortgage Investment Trust in a research note on Friday, May 3rd. StockNews.com upgraded shares of AG Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, May 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $7.50 price target on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. One 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

AG Mortgage Investment Trust Company Profile

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.