AG Mortgage Investment Trust, Inc. (NYSE:MITT) Plans $0.19 Quarterly Dividend

AG Mortgage Investment Trust, Inc. (NYSE:MITT) declared a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Thursday, October 31st. This represents a $0.76 annualized dividend and a yield of 9.76%. The ex-dividend date of this dividend is Monday, September 30th.

AG Mortgage Investment Trust has a dividend payout ratio of 72.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AG Mortgage Investment Trust to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 67.3%.

AG Mortgage Investment Trust Trading Up 0.5 %

MITT stock opened at $7.79 on Friday. The firm has a 50 day moving average of $7.31 and a 200-day moving average of $6.74. The company has a market cap of $229.60 million, a price-to-earnings ratio of 4.48 and a beta of 2.05. AG Mortgage Investment Trust has a 12-month low of $4.82 and a 12-month high of $7.95.

AG Mortgage Investment Trust (NYSE:MITT) last announced its earnings results 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 for the quarter, compared to analyst estimates of $17.00 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Sell-side analysts forecast that AG Mortgage Investment Trust will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on MITT. Keefe, Bruyette & Woods restated 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. JMP Securities upped their target price on shares of AG Mortgage Investment Trust from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Piper Sandler initiated coverage on shares of AG Mortgage Investment Trust in a report on Friday, July 26th. They set an “overweight” rating and a $9.00 price target for the company. Finally, StockNews.com lowered shares of AG Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

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.