AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives $8.00 Average PT from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have been given an average rating of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.00.

MITT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $7.50 target price on shares of AG Mortgage Investment Trust in a research report on Monday, June 17th. JMP Securities upped their target price on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler initiated coverage on AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an “overweight” rating and a $9.00 target price for the company. Finally, StockNews.com downgraded AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

AG Mortgage Investment Trust Price Performance

Shares of MITT stock opened at $7.78 on Friday. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.86. The firm has a market capitalization of $229.31 million, a price-to-earnings ratio of 4.47 and a beta of 2.05. The business has a 50 day simple moving average of $7.20 and a 200 day simple moving average of $6.63.

AG Mortgage Investment Trust (NYSE:MITT) last issued its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). AG Mortgage Investment Trust had a return on equity of 9.44% and a net margin of 17.20%. The business had revenue of $99.82 million during the quarter, compared to the consensus estimate of $17.00 million. During the same period last year, the company earned $0.08 earnings per share. On average, equities analysts anticipate that AG Mortgage Investment Trust will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On AG Mortgage Investment Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of AG Mortgage Investment Trust during the 2nd quarter valued at $72,000. Algert Global LLC acquired a new stake in shares of AG Mortgage Investment Trust in the second quarter worth $81,000. Napa Wealth Management acquired a new stake in shares of AG Mortgage Investment Trust in the fourth quarter worth $96,000. Naviter Wealth LLC boosted its position in shares of AG Mortgage Investment Trust by 30.9% in the first quarter. Naviter Wealth LLC now owns 16,947 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4,000 shares during the period. Finally, Transcend Capital Advisors LLC boosted its position in shares of AG Mortgage Investment Trust by 12.6% in the second quarter. Transcend Capital Advisors LLC now owns 22,300 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

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.