AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of AG Mortgage Investment Trust, Inc. (NYSE:MITT) have received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers 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 reports. StockNews.com cut shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $7.50 target price on shares of AG Mortgage Investment Trust in a research note on Monday, June 17th. JMP Securities upped their price target on AG Mortgage Investment Trust from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler initiated coverage on shares of AG Mortgage Investment Trust in a research report on Friday, July 26th. They issued an “overweight” rating and a $9.00 price objective for the company.

Institutional Trading of AG Mortgage Investment Trust

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in AG Mortgage Investment Trust during the first quarter valued at approximately $704,000. LSV Asset Management bought a new position in AG Mortgage Investment Trust during the second quarter worth $1,110,000. Jump Financial LLC acquired a new position in AG Mortgage Investment Trust in the fourth quarter worth $280,000. Napa Wealth Management bought a new stake in AG Mortgage Investment Trust during the fourth quarter valued at $96,000. Finally, Naviter Wealth LLC raised its holdings in shares of AG Mortgage Investment Trust by 26.3% during the second quarter. Naviter Wealth LLC now owns 21,397 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 4,450 shares during the period. Institutional investors and hedge funds own 27.32% of the company’s stock.

AG Mortgage Investment Trust Trading Down 1.0 %

NYSE MITT opened at $7.79 on Friday. The company has a market capitalization of $229.60 million, a PE ratio of 4.48 and a beta of 2.05. AG Mortgage Investment Trust has a twelve month low of $4.82 and a twelve month high of $7.95. The business’s 50-day moving average price is $7.24 and its 200 day moving average price is $6.65.

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

AG Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.76%. The ex-dividend date of this dividend is Monday, September 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 43.68%.

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.